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The St Louis Business Journal reports that CKE Inc., the company that owns St. Louis based Hardee's and California based Carl's Jr. chains, reportedly is exploring a potential sale a year after postponing its initial public offering.
The company is working with Goldman Sachs Group Inc. on the early stages of a sale process that could value the company at more than $1.7 billion, sources told Reuters.
Carpinteria, Calif.-based CKE, which is led by CEO Andy Puzder, was taken private by Apollo Global Management in 2010 in a deal valued at close to $700 million. The company had planned to go public again last August in a $213 million IPO, but opted to hold off, citing market conditions.