Finance & Capital Management

Atlanta -- An affiliate of Roark Capital Group has acquired a majority stake in CKE Restaurants Inc., owner of Carl's Jr., Hardee's and various other quick-serve restaurant chains.

Manchester, Conn. — Bob’s Discount Furniture has signed a definitive agreement to sell a majority stake of its business to Bain Capital for an undisclosed amount. Bob's management team will continue to own a "significant stake" after the deal and will remain involved in operations, according to the company, which has been majority owned by private equity firm KarpReilly/Apax for the past nine years.

Seattle — More than one million customers around the world joined the Amazon Prime membership program in the third week of December. The entire 2013 holiday season was the best ever for Amazon, with more than 36.8 million items ordered worldwide on Cyber Monday, or 426 items per second.

Dublin, Ohio — The Wendy's Company has sold 30 locations Austin, Texas and another 19 in the Sacramento, Calif.-area in separate transactions. With the completion of the transactions, the company has now either sold or announced sales agreements for a total of 282 restaurants in 2013 as part of its System Optimization initiative.

Lebanon, Tenn. — Cracker Barrel Old Country Store, Inc has considered and rejected a recent filing and statement from top shareholder Sardar Biglari demanding that the company commence a sale process. Cracker Barrel has determined that the continued execution of the company’s existing business strategy is currently the proper course of action for the long-term best interests of the company and its shareholders.

Glendale, Calif. — DineEquity, Inc., parent company of IHOP Restaurants, has opened the first IHOP restaurant in Saudi Arabia. The restaurant, located in “Le Mall,” is part of a seven-brand restaurant destination in Jeddah, which opened Dec. 14.

Chicago, Ill. — Forman Mills, an off price apparel retailer, has leased 38,487 sq. ft. at Grand Plaza in Franklin Park, Ill., according to CBRE, the leasing agent. The new store plans to open next spring.

The Forman Mills lease completes the lease up of a 96,260-sq.-ft. former Kmart, which closed in 2011.  

CBRE began leasing the space in 2012. The first lease was with Big Lots for 29,000 sq. ft. Next came a 29,000-sq.-ft.- lease to Savers Thrift Superstore, which later took another 29,000 sq. ft.

St. Louis, Mo. — IKEA plans to break ground on a three-level, 380,000-sq.-ft. building in midtown St. Louis this summer, according to Pace Properties, the broker selected by IKEA to help facilitate the chain’s expansion into the St. Louis market.

The site is a 21-acre redeveloped tract at the intersection of Forest park and Vendeventer avenues within the 240-acre CORTEX Life Science District in midtown St. Louis.

A search is underway for a new CEO at Crocs following an investment by private equity firm Blackstone and ongoing sales and profitability challenges which could see the funky footwear maker open fewer stores.

Crocs said John McCarvel planned to retire from his position as Croc’s president, CEO and board member around April 30, 2014 as the company rethinks its approach to growth with increased input from Blackstone representatives who will occupy two board seats.

Mondelez Global sold its SnackWell’s brand cookie and snacks business to the Back to Nature Foods Company, a joint venture between Brynwood Partners VI and Mondelez.

Brynwood VI and Mondelez Global formed the Back to Nature joint venture in 2012 through a structure whereby Brynwood VI acquired operating control and Mondelez Global retained a minority position in the new company.