Apollo cashes in on CKE with $1.6B sale
CKE will join Roark affiliated companies, which include Arby’s, Cinnabon, Carvel, Wingstop, Corner Bakery and a number of others. “The cultural match is very positive, and we look forward to taking full advantage of their experience and expertise in the restaurant segment,” CKE chief executive Andy Puzder told the Business Times.
CKE Restaurants sold to Atlanta private equity firm
CKE Restaurants, the Carpinteria-based parent of Carls Jr. and Hardees, has been sold to an Atlanta private equity firm specializing in restaurant chains.
The price was not disclosed and the sale to an affiliate of Roark Capital Group comes five months after Apollo Global Management hired Goldman Sachs to explore a sale or spinoff of the company it purchased in 2010.
Clean Diesel’s Pirelli deal scuttled
Clean Diesel said Nov. 12 that it and the Italian auto parts firm had decided to cancel a project launched earlier this year that brought Clean Diesel’s catalytic converter coatings to Europe.
Salem profits soar on higher Internet revenue
Christian and conservative media operator Salem Communications Corp.’s third-quarter profits jumped 58 percent to $5.3 million, or 21 cents per share, as revenue increased 3.1 percent to $58.5 million. The Camarillo-based firm’s revenue continued to shift to the Web, with third-quarter Internet revenue increasing 20.4 percent to $9.4 million.
ValueClick profits jump 33%, firm to sell sites
Online advertising firm ValueClick’s third-quarter profits jumped 33 percent to $22.1 million and the firm announced plans to sell off company-owned websites such as Investopedia.com and CouponMountain.com.
“We delivered strong profitability and cash flow in the third quarter, driven by a continued mix shift into our higher-value-added offerings,” ValueClick CEO and President John Giuliani said in a news release. “Solid year-over-year growth in our CRM, affiliate marketing, mobile, video and cross-device solutions was offset by weakness in our insertion order display business within the media segment.”
