Baja Fresh to Purchase La Salsa Chain
SB-Based CKE, Inc. Sells Its 96 Restaurants
Santa Barbara-based CKE Restaurants Inc. announced Wednesday it will sell its La Salsa Fresh Mexican Grill chain to Baja Fresh Mexican Grill in order to focus on its Carl’s Jr. and Hardee’s restaurants.
The deal, which is expected to finalize by the end of June 2007, will give California-based Baja Grill 100 percent ownership of the 96 La Salsa restaurants in the country, 72 of which are in California. No financial details were disclosed. Currently, Santa Barbara has a La Salsa restaurant in the Five Points Shopping Center off La Cumbre, as well as one in Oxnard. A representative for CKE said the transaction is not expected to have material impact on the company, which racked over $1.5 billion in consolidated revenue for 2005-2006 fiscal year.
Headquartered in Carpinteria, CKE currently operates over 3,000 restaurants in 43 states and 13 countries, and according to a representative employs approximately 30,000 people. Baja Fresh Grill had no comment on the transaction.