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.
For a second day local fast food workers are expected to walk off their jobs at major national chains like Wendy’s, Hardee’s, and Domino’s. They are pushing for higher wages, better working conditions and the right to form a union.
"Workers at Jimmy Johns in Soulard say they want a livable wage of $15 dollars an hour. That includes Rasheen Aldridge who says pay isn't the only issue - management often humiliates the employees when they do something wrong.
Jimmy Johns is known for their slogan "subs so fast you'll freak." Aldridge says that when employees lag behind, they have to hold signs reading "I don't make sandwiches fast enough." Reporting from Soulard, Michael Golde, KTRS News"
Several hours later, several employees walked off the job at a Florissant McDonalds. Similar protests have taken place in New York and Chicago.