Restaurant Finance Across America
Archived postings from February, 2010...
Alizadeh's 66 Jack-in-the Box restaurants auctioned for $39 million
Posted: Fri, February 26, 2010 at 11:03am (CST)
Abe Alizadeh\'s 66 Jack-in-the Box Restaurants were sold at auction on February 24th in Sacramento for approximately $39 million, an average of $591,000 per location. There was no real estate involved. The restaurants were located in Sacramento, Fresno, Chico and Eureka California. Alizadeh\'s companies-Kobra Associates, Sierra Valley Restaurants and Foodservice Management-filed for bankruptcy on September 18, 2009. The restaurants are now operated by a U.S. Trustee, Beverly N. McFarland. Alizadeh had been a franchisee in the Jack-in-the-Box system for over thirty years. National Franchise Sales of Irvine, California conducted the auction. ...continue reading.
Thomas H. Lee Partners to acquire CKE
Posted: Fri, February 26, 2010 at 9:23am (CST)
Thomas H. Lee Partners has entered into a merger agreement to acquire CKE for approximately $928 million, including the assumption of approximately $309 million of net debt.
CKE News Release 2-26-10