Reuters reported this morning that the second bidder for CKE Restaurants, the parent of Carl's Jr. and Hardee's, is Apollo Managemet, a private equity firm with a stake in the Garden Fresh buffet chain. Reuters cited unidentified sources, and noted that Apollo neither confirmed nor denied its involvement.
Apollo has also been a lender to U.S. Foodservice, the restaurant distribution giant, and Kronos, a supplier of foodservice time-management technology.
The amount of the second bid was not disclosed in the Reuters report.
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