CKE RESTAURANTS SELLS 29 MIDWEST HARDEE’S RESTAURANTS

INDIANA, OHIO AND IOWA — CKE Restaurants Inc. has sold 29 Hardee’s restaurants as part of its ongoing strategic refranchising program that was originally announced in April 2007. The company has completed the sale of 23 restaurants in Indiana and Ohio to Midwest First Star Inc. for an undisclosed amount. Midwest First Star Inc., with Farooq Shah and Carri Simon as principals, has also committed to building a minimum of seven new Hardee’s restaurants in these markets over the next 7 years.
Additionally, CKE Restaurants Inc. completed the sale of six Hardee’s restaurants in the Davenport, Iowa, market. Last year, Westar Foods Inc. acquired Hardee’s restaurants throughout the Des Moines and Cedar Rapids, Iowa, markets. Westar Foods has committed to build a minimum of four new restaurants in the Davenport market over the next 4.5 years. Both transactions were brokered by Franchise Resale Consultants LLC, d/b/a Praetorian Group.