THOUSAND OAKS Calif. The previously reported sale of the 96-unit La Salsa Fresh Mexican Grill to the owners of Baja Fresh Mexican Grill, based here, was completed Tuesday, former owner CKE Restaurants Inc. announced.
La Salsa is now a sister brand of the 292-unit Baja Fresh Mexican Grill brand owned by B.F. Operations Holdings, with David Kim as majority owner. Kim is joined in the deal by GarMark Partners II LP, based in Stamford, Conn., and M Plus Capital, based in Santa Monica, Calif. Kim also owns the Cinnabon franchise operation CinnaWorks, as well as the Sweet Factory candy store chain.
James Walker, president of Baja Fresh, also has been named president of La Salsa.
Andrew Puzder, CKE president and chief executive, said: “With the closing of this transaction, we can now shift our resources and focus towards growing Carl’s Jr. and Hardee’s, as well as dual-branding them with our Mexican brands, Green Burrito and Red Burrito. We believe these initiatives offer the best opportunity to improve our future earnings and cash flow.”
Carpinteria, Calif.-based CKE, operates, franchises or licenses 1,101 Carl’s Jr. and 1,905 Hardee’s restaurants in 43 states and 13 countries.
