CKE Restaurants Inc. said Monday it sold 25 Hardee’s restaurants as part of a refranchising program it expects to include more than 200 locations across the Midwest and Southeast.

As part of the program, the company said it sold 18 eastern Atlanta restaurants and seven units in southern Alabama and Georgia to two separate groups. Financial terms were not disclosed.

The 18 eastern Atlanta restaurants were sold to franchise entity Biscuits and Burgers LLC. As part of the deal, the franchisee committed to build 25 new Hardee’s locations in eastern Atlanta over the next seven years.

CKE President and Chief Executive Andrew F. Puzder said in a statement that refranchising the markets will allow his company to focus in its core markets. He said the company is in various stages of negotiations with potential and existing franchisees for the sale of the majority of the restaurant locations.

As of Jan. 29, the company said it had a total of 3,105 franchised or company-operated restaurants in 43 states and 13 countries.

CKE shares rose 12 cents to close at $19.89 on the New York Stock Exchange.

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Further Reading
CKE Restaurants to Buy Back 4.1M Shares
Hardee’s franchisee acquires $8.5 million to buy Atlanta stores
Hardee's Sells 30 Restaurants In Kansas City Market As Part Of Ongoing Strategic Refranchising
Baja Fresh Hires New VP of Franchise Development and Real Estate
Central Park

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