Spicy Pickle Franchising, Inc. , operator of the fast casual restaurant chains Spicy Pickle in the United States and Bread Garden Urban Café in Canada, today announced that its President has decided to step aside following the company’s appointment of a new CEO and election of three new board members.

The company has accepted the resignation of Marc Geman as President and as a member of the Board of Directors. Mr. Geman has resigned to pursue other interests. Mark Laramie, the company’s new CEO, stated, “We thank Mr. Geman for his years of service and wish him well in his new endeavors.” Mr. Geman noted that “the company is in very capable hands with Mark as its CEO and a dynamic new Board.”

The company has also accepted the resignation of Anthony Walker as a Director. Mr. Walker will continue in his current position as Chief Operating Officer. His responsibilities will include company owned restaurant operations, franchise support, distribution, training, and commissary operations. Mr. Laramie stated, “As we look to the future and prepare for expansion of our brands, we are reorganizing the key management staff and infrastructure to elevate us to the next level, while also maximizing cost efficiencies and cash flow.”

Founded in 1999, Spicy Pickle Franchising, Inc. (OTCBB: SPKL) serves high quality meats and fine artisan breads, baked fresh daily, along with a wide choice of eight different cheeses, twenty-two different toppings, and fourteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world. As a leading “fast-casual” concept, Spicy Pickle offers menu items that are far beyond traditional fast food but without the price point of casual dining. The hallmark of a Spicy Pickle restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with restaurants open across 11 states and more in development nationwide. Spicy Pickle Franchising, Inc. also operates as franchisor for Bread Garden Urban Cafés, a bakery café concept with restaurants in the metropolitan Vancouver, Canada area. Bread Garden Urban Cafés serve coffee, pastries and breakfast items as well as lunch and dinner along with a wide variety of desserts and are found in typical high density urban settings along with specialty locations in two airports in British Columbia.

Magic Brands LLC, an Austin-based restaurant group, is selling almost all of its assets, including Fuddruckers and Koo Koo Roo restaurant brands, to Tavistock Group in a $40 million transaction.

Tavistock Group owns and operates Austin-based Freebirds World Burrito, which has 32 locations and plans to open an additional 20 units this year. Other Tavistock restaurant brands include ZED451, Cafe del Rey, Napa Valley Grille, Blackhawk Grille, California Cafe and Sapporo.

As part of that purchase agreement, Magic Brands and some of its affiliates have voluntarily filed for Chapter 11 bankruptcy protection, which will result in the closure of some Fuddruckers, according to an announcement from Magic Brands.

Magic Brands said it will use the Chapter 11 bankruptcy “to terminate certain Fuddruckers leases and will close 24 corporate-owned Fuddruckers restaurants by April 30, 2010.”

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Minneapolis’ Oceanaire Inc., the high-end seafood restaurant chain that tumbled into insolvency last year, will live on to ply its delicacies of the deep — but under a new owner, Houston-based Landry’s Restaurants Inc.

Oceanaire filed for Chapter 11 bankruptcy reorganization in July, one of scores of restaurant chains felled by a recession that bit deep into consumers’ discretionary spending. Oceanaire closed four restaurants, but its other 12 outlets remained open, as is custom in Chapter 11, while the company looked for financial relief.

That relief is expected to come in a $24 million deal with Landry’s, a publicly traded company with a stable of over 20 restaurant brands, including Rainforest Cafe, a concept also born in Minnesota. The deal needs federal bankruptcy court approval, which could come as early as next week.

The sale would provide $6.6 million for Oceanaire’s creditors, while Landry’s would assume about $17 million in Oceanaire debt, said Terry Ryan, Oceanaire’s chief executive.

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CKE Restaurants, Inc. (NYSE: CKR) (the “Company”) announced today that, on April 18, 2010, the party previously designated as an “Excluded Party” (“Excluded Party”), as such term is defined in the Agreement and Plan of Merger, dated as of February 26, 2010, by and among the Company, Western Acquisition Holdings, Inc., a Delaware corporation (“Parent”), and Western Acquisition Corp., a Delaware corporation (the “Current Merger Agreement”), submitted a formal binding offer for the acquisition of the Company in which the Company’s stockholders would receive $12.55 per share in cash (the “Excluded Party Proposal”). The Excluded Party Proposal included an Agreement and Plan of Merger, a Limited Guarantee and Company Stockholder Voting Agreements, all of which were executed by the Excluded Party and certain of its affiliates (collectively, the “Proposed Transaction Documents”). The Excluded Party Proposal expires upon certain events, including the Company’s failure to accept, execute and deliver the Proposed Transaction Documents to the Excluded Party by 12:01 a.m. Eastern Daylight Time on April 24, 2010.

On April 19, 2010, the Company’s Board of Directors determined, in accordance with the terms of the Current Merger Agreement, that the Excluded Party Proposal constitutes a “superior proposal” as such term is defined in the Current Merger Agreement. In making this determination, the Company’s Board of Directors was assisted by its financial advisor and outside legal counsel.

Also on April 19, 2010, the Company gave written notice (the “Notice”) to Thomas H. Lee Partners, L.P. of the Company’s receipt of the Excluded Party Proposal, the Company’s Board of Directors’ determination that the Excluded Party Proposal constitutes a “superior proposal” as such term is defined in the Current Merger Agreement, and the Company’s intention to terminate the Current Merger Agreement subject to the terms of the Current Merger Agreement. Pursuant to the terms of the Current Merger Agreement, the Company is required to negotiate in good faith with Parent for a period of four business days after the business day that such Notice is received by Parent in accordance with the terms of the Current Merger Agreement such that it would cause the Excluded Party Proposal to no longer constitute a “superior proposal” as such term is defined in the Current Merger Agreement. If Parent does not favorably adjust the terms of the Current Merger Agreement, the Company expects, promptly after the expiration of the four business day negotiating period, to send a notice of termination to Parent terminating the Current Merger Agreement effective immediately and to enter into the Proposed Transaction Documents with the Excluded Party.

FORWARD-LOOKING STATEMENTS

This filing contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give the Company’s current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company’s control, and could cause the Company’s results to differ materially from those described. These uncertainties and other factors include, but are not limited to, risks associated with the transactions contemplated by Current Merger Agreement, including the occurrence of any event, change or other circumstances that could give rise to the termination of the Current Merger Agreement, the inability to complete the transactions contemplated by the Current Merger Agreement due to the failure to obtain shareholder approval or the failure to satisfy other conditions to completion of the transactions contemplated by the Current Merger Agreement, and the failure to obtain the necessary debt financing arrangements set forth in commitment letters received in connection with the transactions contemplated by the Current Merger Agreement. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the New York Stock Exchange. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties as discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”).

ADDITIONAL INFORMATION ABOUT THE PROPOSED MERGER AND WHERE TO FIND IT.

In connection with the proposed merger with affiliates of Thomas H. Lee Partners, L.P., the Company filed a preliminary proxy statement with the SEC on March 19, 2010. When completed, a definitive proxy statement and form of proxy will be filed with the SEC and mailed to the Company’s stockholders. BEFORE MAKING ANY VOTING DECISION, THE COMPANY’S STOCKHOLDERS ARE ADVISED TO READ THE PRELIMINARY PROXY STATEMENT, AND, WHEN AVAILABLE, THE DEFINITIVE PROXY STATEMENT CAREFULLY BECAUSE THESE PROXY STATEMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSED MERGER. The Company’s stockholders may obtain a free copy of the preliminary proxy statement, the definitive proxy statement (when available) and other documents filed by the Company with the SEC at the SEC’s website at www.sec.gov.

The Company’s stockholders may also obtain a free copy of the preliminary proxy statement, definitive proxy statement (when available) and such other documents by directing a request to Investor Relations, CKE Restaurants, Inc., 805-745-7750, or by visiting the Company’s website at www.ckr.com under “Investors/SEC Filings.”

The Company and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the proposed merger. Information concerning the interests of the Company’s participants in the solicitation is set forth in the Company’s proxy statements and Annual Reports on Form 10-K, previously filed with the SEC. Additional information regarding the interests of the Company’s participants in the proposed merger, which may be different than those of the Company’s stockholders generally, is included in the preliminary proxy statement and will be contained in the definitive proxy statement when it becomes available.

CKE Restaurants, Inc.

Headquartered in Carpinteria, Calif., CKE Restaurants, Inc. is publicly traded on the New York Stock Exchange under the symbol “CKR.” As of the end of its fiscal 2010, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,141 franchised, licensed or company-operated restaurants in 42 states and in 16 countries, including 1,224 Carl’s Jr. restaurants and 1,905 Hardee’s restaurants. For more information about CKE Restaurants, please visit www.ckr.com.

An Atlanta-based private equity firm that already has a stake in at least four restaurant companies has purchased Richardson-based Wingstop Restaurants, Inc., the company said early Monday.

Terms were not disclosed.

James Flynn, Wingstop’s chief executive officer, said he and the rest of the senior management team will remain in place under the new owners, who purchased more than 90 percent of the company Friday.

Roark, which has a stake in Carvel ice cream, Cinnabon, Moe’s Southwest Grill, Schlotzsky’s and Seattle’s Best Coffee International, takes over for Gemini Investors, which purchased a controlling stake in Wingstop in 2003 and owned more than 60 percent of the company.

“Their fund was a 10-year fund,” Flynn said of Gemini. “It was time for them to exit. A seven-year investment is a long time for private equity.”

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California Pizza Kitchen Inc (CPKI.O) is seeking buyers for the restaurant chain, a source familiar with the deal said, sending its shares up as much as 17 percent on Friday.

The chain known for gourmet hearth-baked pizzas and creative salads is valued at just over $500 million based on Friday’s closing share price of $20.74.

California Pizza shares rose as much as 17.2 percent on Friday, including the after-hours rise.

Private equity groups have been smelling opportunity in the casual dining sector of late, as financing becomes more accessible and consumers show more willingness to eat out.

Rival CKE Restaurants Inc (CKR.N), owner of the Hardee’s and Carl’s Jr hamburger chains, has solicited counter offers recently after agreeing in February to be bought by private equity firm Thomas H. Lee Partners.

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Restaurant operator Steak n Shake Co. is getting a name change that reflects the grand ambitions of its chairman.

Shareholders on Thursday approved a proposal to rename the company Biglari Holdings Inc., a nod to the current chairman, Sardar Biglari. The stock will now trade under the ticker “BH” on the New York Stock Exchange, instead of Steak n Shake’s current symbol, “SNS.”

The change, which takes effect Friday, reflects the company’s effort to transform itself from a restaurant operator into a broad holding company that owns a range of businesses.

It also shines a spotlight onto Biglari, 32, a longtime follower of Berkshire Hathaway investing guru Warren Buffett.

Since becoming chairman about two years ago, Biglari has made a series of moves suggesting he wants to mimic his investing hero.

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CKE Restaurants, Inc. (NYSE:CKR) (the “Company”) announced today that it has received an alternative takeover proposal to acquire all the outstanding shares of the Company (the “Takeover Proposal”).

The board of directors of the Company has determined, after consultation with the Company’s financial and legal advisors, that the Takeover Proposal is reasonably expected to lead to a “Superior Proposal,” as such term is defined in the Agreement and Plan of Merger (the “Merger Agreement”) that was entered into on February 26, 2010 with affiliates of Thomas H. Lee Partners, L.P., and that the party that submitted the Takeover Proposal has qualified as an “Excluded Party,” as such term is defined in the Merger Agreement. By determining that the party is an Excluded Party, the Company is permitted, subject to certain conditions, to continue to furnish information and engage in further discussions and negotiations with the party until 12:01 p.m. (New York City time) on April 27, 2010.

The board of directors of the Company, in consultation with the Company’s financial and legal advisors, has not determined that the Takeover Proposal constitutes a Superior Proposal under the Merger Agreement. The received Takeover Proposal is subject to several conditions, including completion of due diligence and the negotiation of a mutually acceptable definitive agreement, and did not include evidence of a committed financing. Accordingly, there can be no assurance that the Takeover Proposal will ultimately lead to a Superior Proposal as discussions and negotiations with the Excluded Party could terminate at any time. The board of directors of the Company has not changed its recommendation with respect to the Company’s pending merger with affiliates of Thomas H. Lee Partners, L.P. pursuant to the Merger Agreement.

ADDITIONAL INFORMATION ABOUT THE PROPOSED MERGER AND WHERE TO FIND IT.

In connection with the proposed merger with affiliates of Thomas H. Lee Partners, L.P., the Company filed a preliminary proxy statement with the SEC on March 19, 2010. When completed, a definitive proxy statement and form of proxy will be filed with the SEC and mailed to the Company’s stockholders. BEFORE MAKING ANY VOTING DECISION, THE COMPANY’S STOCKHOLDERS ARE ADVISED TO READ THE PRELIMINARY PROXY STATEMENT, AND, WHEN AVAILABLE, THE DEFINITIVE PROXY STATEMENT CAREFULLY BECAUSE THESE PROXY STATEMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSED MERGER. The Company’s stockholders may obtain a free copy of the preliminary proxy statement, the definitive proxy statement (when available) and other documents filed by the Company with the SEC at the SEC’s website at www.sec.gov.

The Company’s stockholders may also obtain a free copy of the preliminary proxy statement, definitive proxy statement (when available) and such other documents by directing a request to Investor Relations, CKE Restaurants, Inc., 805-745-7750, or by visiting the Company’s website at www.ckr.com under “Investors/SEC Filings.”

The Company and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the proposed merger. Information concerning the interests of the Company’s participants in the solicitation is set forth in the Company’s proxy statements and Annual Reports on Form 10-K, previously filed with the SEC. Additional information regarding the interests of the Company’s participants in the proposed merger, which may be different than those of the Company’s stockholders generally, is included in the preliminary proxy statement and will be contained in the definitive proxy statement when it becomes available.

CKE Restaurants, Inc.

Headquartered in Carpinteria, Calif., CKE Restaurants, Inc. is publicly traded on the New York Stock Exchange under the symbol “CKR.” As of the end of its fiscal 2010, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,141 franchised, licensed or company-operated restaurants in 42 states and in 16 countries, including 1,224 Carl’s Jr. restaurants and 1,905 Hardee’s restaurants. For more information about CKE Restaurants, please visit www.ckr.com.

Wingstop Holdings Inc., a popular purveyor of chicken wings under the name Wingstop Restaurants Inc., is being acquired by a fund of a Massachusetts-based investment shop called Gemini Investors, according to a filing in the Federal Register.

Financial terms of the transaction between Richardson-based Wingstop, one of the fastest-growing restaurant chains in the country, and Gemini Investors IV LP, weren’t disclosed. The Federal Register listing said Gemini Investors IV is seeking to acquire Wingstop with an undisclosed amount of debt and equity financing.

Gemini Investors III LP, owns more than 10% of Wingstop, which generated revenue of $306.7 million in 2009 and has 435 restaurants nationally.

Gemini Investors IV LP will be part of a larger pool of funds to cash out existing shareholders, one of which is Gemini Investors III, the Federal Register notice said.

Officials at Richardson-based Wingstop, which is led by president and CEO James Flynn, declined to comment. James Goodman, Gemini’s president, could not be reached.

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When brand-name restaurant chains are losing money, private-equity firms begin to salivate. The down economy has laid a feast for these acquisition players, which have bid recently on eateries from upscale Benihana (BNHN) to pizza take-and-bake chain Papa Murphy’s. If the acquisition price is right and investors can improve performance at these eateries, investors could reap big profits reselling when the economy turns and restaurant sales improve.

Of course, it’s often hard to tell whether investment firms are buying right, as PE firms hate to say publicly what they’ve paid. Papa Murphy’s sale this week by Charlesbank Capital Partners to busy consumer-retail acquirer Thomas H. Lee Partners had an undisclosed price tag, for instance. But it’s likely at a good value — Lee is also in the process of acquiring CKE Restaurants (CKR), owner of the Carl’s Jr. and Hardee’s burger chains at a relatively cheap $928 million.

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Lee Equity Partners, a New York private equity firm, has entered an agreement to purchase Papa Murphy’s International, the Vancouver-based take-and-bake pizza chain with nearly 1,200 locations.

Boston-based Charlesbank Capital Partners put the restaurant chain up for sale last year. The sale is expected to close in the second quarter. Terms were not disclosed.

Charlesbank acquired Papa Murphy’s in 2004 and improved domestic sales by more than 63 percent.

The company reported 7 percent sales growth in 2009, with revenue of $630 million. Same-store sales grew two percent. Most of its locations are operated by franchisees.

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New York-based private equity firm Lee Equity Partners has signed a definitive agreement to purchase the nearly 1,200 unit Papa Murphy’s Take ‘N’ Bake pizza chain from its current majority owner, Charlesbank Capital Partners. Terms of the deal are not being disclosed.  

Papa Murphy’s said that the transaction will position the company for its next phase of growth, as it continues to seek new franchise owners and open locations, primarily in the Southwestern and Southeastern United States. The deal is expected to close in the second quarter of 2010.

Since Papa Murphy’s recapitalization by Charlesbank in 2004, the take ‘n’ bake pizza pioneer has seen its domestic system-wide sales increase by more than 63%, according to John Barr, Chairman and CEO of Papa Murphy’s. “Charlesbank has been a great value-added partner, and I credit much of our strong position in the current marketplace to their support over the years,” said Mr. Barr. “This new chapter with Lee Equity will undoubtedly benefit all of the brand’s stakeholders, including our franchisees, employees and vendors. I look forward to working together to provide an even stronger foundation for expansion and profitable growth.”

“John Barr and the management team have done a terrific job developing the company internally and fortifying its industry leadership position and strong franchise network,” said Michael Eisenson, Charlesbank CEO. “This has been a rewarding investment for us, and we look forward to a very successful partnership between the company and Lee Equity Partners as the management team continues to execute their strategy for growth.”

Thomas H. Lee, President of Lee Equity Partners, said that his organization was impressed with Papa Murphy’s potential for future growth. “This is an outstanding brand with a strong management team. We are very excited about the expansion possibilities into areas of the country where they have little or no presence today.”

Mr. Lee has been involved in a number of high growth consumer-oriented acquisitions, including Snapple Beverage Corp., General Nutrition Companies, PETCO Animal Supplies, Inc., Ghirardelli Holdings Corp., Banana Boat, and Sterling Jewelers, Inc., among others.

North Point Advisors and Wells Fargo Securities served as strategic consultants to Charlesbank and Papa Murphy’s on the transaction.

About Papa Murphy’s

Papa Murphy’s is the fifth-largest pizza chain in the country and the pioneer and leader of the Take ‘N’ Bake pizza segment. Papa Murphy’s operates nearly 1,200 franchised and corporate-owned locations in 35 states and Canada. The Vancouver, Washington-based company offers custom-made pizzas featuring high-quality fresh toppings generously layered on pizza dough that is made fresh each morning in each store. By baking Papa Murphy’s pizzas at home, customers get to experience the home-baked aroma of a convenient, delicious meal that the brand is known for. In addition to handmade pizzas, the company offers a growing menu of Take ‘N’ Bake items, including Cheesy Bread, Cinnamon Wheels, and chocolate chip cookie dough. Papa Murphy’s has been voted “Best Pizza Chain in America” for seven consecutive years by consumers nationwide in the Restaurants and Institutions “Consumers’ Choice in Chains” survey and is a four-time recipient of Pizza Today’s Chain of the Year award, most recently in 2009. For more information, visit www.papamurphys.com.

Tootie Pie Company, Inc. announced today that is has cancelled plans to open a Tootie Pie Gourmet Café at Artisans Alley, due to difficulties coming to suitable final terms.

“Both sides worked very hard on this project and we are disappointed that there will be no Tootie Pie Gourmet Café at Artisans Alley,” said Don Merrill, Tootie Pie Company’s President and CEO.

“We will continue our search for more locations in the San Antonio area. Of course, customers will go on enjoying Tootie Pie at our two Gourmet Cafés; located at the corner of Huebner and Bitters, as well as 2339 Evans Road off of 281 North,” Merrill added.

Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual consumers through in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the NASDAQ OTC market under the symbol “TOOT.” For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.

Brinker International, Inc. (NYSE: EAT) has entered into a purchase agreement with OTB Acquisition LLC, an affiliate of Golden Gate Capital, to sell its On The Border Mexican Grill & Cantina brand. Terms of the transaction were not disclosed.

Brinker expects the transaction to close by the end of fiscal 2010, subject to the completion of customary closing procedures. Brinker anticipates recording a gain upon completion of the transaction.

Brinker has agreed to provide transitional corporate support services to On The Border through the end of fiscal 2011, which will generate additional fees to offset the internal cost of providing the services. Moelis & Company LLC, is acting as Brinker’s exclusive financial advisor in connection with this transaction.

“On The Border is well positioned to build on its current success and we are confident it will be a great addition to the Golden Gate portfolio,” said Doug Brooks, Chairman and Chief Executive Officer of Brinker International. “This decision enhances long term value for our shareholders and we believe that On The Border will continue to thrive under new ownership.”

“On The Border is a strong leader in Mexican Casual Dining,” said Joshua Olshansky, a Managing Director at Golden Gate Capital. “We are enthusiastic about the Company’s significant growth opportunities and we are very pleased to partner with the On The Border team to continue the success of the brand.”

Golden Gate Capital is a San Francisco-based private equity firm. Over the last five years, Golden Gate has completed over 20 acquisitions in the specialty retail and restaurant sectors with combined annual revenue in excess of $4 billion, including such well known brands as Romano’s Macaroni Grill, Express, Eddie Bauer, and J.Jill.

About Brinker International

Brinker, International Inc. is one of the world’s leading casual dining restaurant companies. Founded in 1975 and based in Dallas, Texas, Brinker currently owns, operates, or franchises 1704 restaurants under the names Chili’s(R) Grill & Bar (1,499 restaurants), On The Border Mexican Grill & Cantina(R) (160 restaurants) and Maggiano’s Little Italy(R) (45 restaurants). Brinker also holds a minority investment in Romano’s Macaroni Grill(R).

About On The Border Grill & Cantina

On The Border is a full-service, casual dining Mexican restaurant brand with 160 restaurants. The menu offers a wide variety of Mexican favorites, with a focus on fresh, signature and value-oriented Mexican items. The menu includes fresh new salads like the Citrus Chipotle Chicken Salad; a new, signature OTB Fresh Grill; a Fajita Grill with new, customizable, top-quality fajitas; and a refreshed OTB Taco Stand introducing indulgent items like Taco Melts and fresh classics like Grilled Mahi Mahi Tacos. The menu is complemented by a full offering of beverages like the Perfect Patron margarita, the fresh, Shaken Margarita and the new Sangria. On The Border offers full bar service, in-restaurant dining and signature patio dining in all locations. On The Border also offers the convenience of a To-Go menu and To-Go entrance to expedite take-out service. In addition to To-Go, On The Border offers catering service, from simple drop-off delivery to full-service event planning. For more information, visit http://www.ontheborder.com.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $8 billion of assets under management. Golden Gate is dedicated to partnering with world class management teams and targets investments in situations where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types. For more information, visit http://www.goldengatecap.com.

New York City can keep its “Tavern on the Green” and eat there too.

U.S. District Judge Miriam Goldman Cedarbaum on Wednesday settled the biggest question in a legal dispute between the city and the longtime operators of the landmark eatery in Central Park. The restaurant closed on New Year’s Eve following financial problems.

The debt holders of the bankrupt restaurant had sought to stop the city from using the name in the future. The city wanted the court to declare it the rightful owner of the name, which has been valued at $19 million.

The judge sided with the city, saying it had licensed the facility and retained extensive control, including the right to regulate the times and manner of operation and to terminate the license if it found the restaurant was being operated unsatisfactorily.

Cedarbaum noted that “Tavern on the Green” has been a famous name associated in the public mind with a restaurant in the city’s Central Park since 1934.

Until it closed, the restaurant had been operated since the 1970s by Tavern on the Green Limited Partnership and LeRoy Adventures Inc.

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CKE Restaurants, Inc. (“CKE”), owner of Carl’s Jr. and Hardee’s quick-service restaurant chains, and Thomas H. Lee Partners (“THL”) today announced that they have entered into a definitive merger agreement under which THL will acquire CKE for approximately $928 million, including the assumption of approximately $309 million of net debt.

Under the terms of the agreement, CKE stockholders will receive $11.05 in cash for each share of CKE common stock they hold, representing a 24% premium to the Company’s closing share price on February 25, 2010 and a 29% premium to the Company’s volume weighted average closing share price of approximately $8.60 during the 30 trading days ended February 25, 2010.

Byron E. Allumbaugh, CKE’s Chairman of the Board, said, “We are excited to announce this transaction which provides substantial value to our shareholders.”

Andrew F. Puzder, Chief Executive Officer of CKE Restaurants, said, “We believe this transaction provides excellent value to our shareholders and represents an exciting opportunity to continue the growth and development of CKE Restaurants in partnership with THL. THL’s proven history of success as an investor and value-added partner to its portfolio companies, coupled with its deep financial expertise and experience in the consumer sector, will also benefit all of our stakeholders, including our franchisees and our employees.”

Todd Abbrecht, Managing Director of THL Partners, said, “THL is pleased to partner with CKE’s seasoned management team to continue building on the Company’s powerful brands and strong position in the marketplace. We are committed to making this great company even better, and to working together with the entire organization to provide an even stronger foundation for value creation, expansion and profitable growth.”

In addition, under the merger agreement, CKE Restaurants will actively solicit superior proposals from third parties for a period of 40 days continuing through April 6, 2010. CKE Restaurants does not intend to disclose developments with respect to this solicitation process unless and until its Board of Directors has made a decision regarding any superior proposals that may be made. There can be no assurances that this solicitation will result in a superior proposal.

The transaction is expected to close in the second quarter of 2010, subject to approval by CKE shareholders, regulatory approval, and other customary closing conditions.

UBS Investment Bank is acting as financial advisor to CKE. Stradling, Yocca, Carlson & Rauth is acting as legal advisor to CKE. Ropes & Gray LLP is acting as legal advisor to THL. BofA Merrill Lynch and Barclays Capital are acting as financial advisors to THL. Affiliates of BofA Merrill Lynch and Barclays Capital have provided a financing commitment to THL to support the transaction.

Additional Information About the Transaction and Where to Find It

In connection with the proposed transaction, CKE will file a proxy statement and other materials with the Securities and Exchange Commission. Investors and security holders are advised to read the proxy statement and these other materials when they become available because they will contain important information about CKE and the proposed transaction. Investors and security holders may obtain a free copy of the proxy statement (when available) and other documents filed by CKE with the Securities and Exchange Commission at the Securities and Exchange Commission’s Web site at www.sec.gov.

The proxy statement and such other documents are also available for free on CKE’s website at www.ckr.com under “Investors/SEC Filings” or by directing such request to Investor Relations, CKE Restaurants, Inc., 805-745-7750.

CKE and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from its shareholders in connection with the proposed merger. Information concerning the interests of CKE’s participants in the solicitation is set forth in CKE’s proxy statements and Annual Reports on Form 10-K, previously filed with the Securities and Exchange Commission, and in the proxy statement relating to the proposed transaction when it becomes available.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give CKE’s current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond CKE’s control, and could cause CKE’s results to differ materially from those described. These uncertainties and other factors include, but are not limited to, risks associated with this transaction, including the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the inability to complete the transaction due to the failure to obtain shareholder approval or the failure to satisfy other conditions to completion of the transaction, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the failure to obtain the necessary debt financing arrangements set forth in commitment letters received in connection with the transaction. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. CKE undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the New York Stock Exchange. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties as discussed in CKE’s filings with the Securities and Exchange Commission.

About CKE Restaurants, Inc.

Headquartered in Carpinteria, Calif., CKE Restaurants, Inc. is publicly traded on the New York Stock Exchange under the symbol “CKR.” As of the end of its fiscal 2010 third quarter, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,147 franchised, licensed or company-operated restaurants in 42 states and in 14 countries, including 1,221 Carl’s Jr. restaurants and 1,913 Hardee’s restaurants. For more information about CKE Restaurants, please visit www.ckr.com.

About Thomas H. Lee Partners, L.P. (“THL”)

THL is one of the oldest and most successful private equity investment firms in the United States. Since its establishment in 1974, THL has been the preeminent growth buyout firm, raising approximately $22 billion of equity capital, investing in more than 100 businesses with an aggregate purchase price of more than $125 billion, completing over 200 add-on transactions and generating superior returns for its investors. THL focuses its high value-added strategy on growth businesses, partnering with the best managers in an industry to build great companies through strong organic growth and targeted add-on acquisitions. Notable transactions sponsored by THL include Aramark, Ceridian, Dunkin’ Brands, Experian, Fidelity National Information Services, HomeSide Lending, Houghton Mifflin, Michael Foods, The Nielsen Company, ProSiebenSat.1, Snapple, Warner Chilcott, Warner Music Group and West Corporation.

Cipriani London, the fashionable Italian restaurant frequented by celebrities including Elton John and David and Victoria Beckham, is considering an appeal to the Supreme Court after losing a legal battle over the Cipriani trademark.

The Court of Appeal today ordered the Cipriani family to remove the name from the restaurant, ruling that the trademark resided with Orient-Express Hotels, the owner of the luxury Hotel Cipriani, in Venice.

Lord Justice Lloyd said the hotel “does not carry on any business at premises in the UK but the business which it does carry on in Venice has an international reputation”. He ordered the family to pay costs and damages to the hotel.

The ruling confirms the original 2008 judgment against Cipriani International and its head, Giuseppe Cipriani, who opened the Cipriani London in Mayfair in 2004, eight years after the Hotel Cipriani registered the trademark in the UK.

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Cisco’s Restaurant Bakery & Bar, a Tex-Mex eatery that has been an East Austin favorite for decades, is up for sale.

A small for-sale sign is posted on the east side of the Cisco’s building at 1511 E. Sixth St. The East Austinite blog reports the property is being marketed for nearly $4 million; a local real estate agent says it’s listed for $3.8 million.

David Cox, an Austin real estate agent who is marketing the property, declined to provide information about Cisco’s being on the sale block.

The now-legendary restaurant dates back to the 1930s.

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• 2010 RestaurantNews.com Franchise Guide
• How To Start A Restaurant Following A Profitable System
• Restaurant Franchising
• Quick Service Restaurants, Franchising, and Multi-Unit Chain Management
• Restaurant Planning, Design, and Construction: A Survival Manual for Owners, Operators, and Developers
• The Restaurant: From Concept to Operation
• The Restaurant Business Start-up Guide
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• Design and Equipment for Restaurants and Foodservice: A Management View
• Successful Restaurant Design
• Contemporary Japanese Restaurant Design
• Restaurant Planning, Design, and Construction: A Survival Manual for Owners, Operators, and Developers
• Restaurants Clubs and Bars, Second Edition (Library of Planning & Design)
• The Restaurant Manager’s Handbook: How to Set Up, Operate, and Manage a Financially Successful Food Service Operation
• Running a Restaurant for Dummies
• Foodservice Organizations: A Managerial and Systems Approach
• How to Open a Financially Successful Pizza & Sub Restaurant
• Restaurant Financial Basics
• Opening a Restaurant or Other Food Business Starter Kit: How to Prepare a Restaurant Business Plan & Feasibility Study: With Companion CD-ROM
• The Encyclopedia of Restaurant Forms: A Complete Kit of Ready-to-Use Checklists, Worksheets and Training Aids for a Successful Food Service Operation: With Companion CD-ROM
• Start and Run Your Own Coffee Shop and Lunch Bar

Scott Barnett, founding President and CEO of Bubba Gump Shrimp Co. Restaurants, Inc. has announced today his resignation. As President and CEO, Mr. Barnett’s responsibilities included leadership of the Bubba Gump Shrimp Co. Restaurants and Markets, The Mai Tai Bar nightclubs, Capi’s Italian Kitchen and The Newport Beach Rusty Pelican.

“This was a difficult decision. The team here has achieved great results, particularly in the last couple of years,” said Mr. Barnett. “The people who work here are second to none in the industry.”

Having been at the helm of the company since its inception in 1996, Mr. Barnett guided the company to a remarkable ten consecutive years of comp store growth.

“Scott is the most gifted restaurant executive I’ve met,” said Gordon Miles, Chairman of the Board. “We’re extremely sorry to see him go.”

Daily operations will be transitioned over the coming weeks to company Vice Presidents Tim Busald and Gail Taggart.

Bubba Gump Shrimp Co. Restaurants, Inc. operates 22 Bubba Gump Shrimp Co. locations in the U.S. and has franchise or joint venture operations in 11 international locations. A casual seafood restaurant, Bubba Gump Shrimp Co. is known for its iconic locations, interactive service and high quality menu variety. The company is headquartered in San Clemente, CA.

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Hooters, the US restaurant chain famous for its buxom, scantily clad waitresses, is up for sale for as much as $250 million, according to reports.

The company has hired North Point Advisors, a San Francisco investment bank, to advise on the possible sale and is approaching potential private equity buyers, the New York Post said.

Hooters’ chain of 450 owned and franchised “breast-aurants”, which stretches from the company’s Atlanta base to Nottinham in the UK, made more than $1 billion of sales in 2008.

More recent sales figures were not available for the closely held company, which is likely to have been hit as the recession forced customers to cut back on beer and chicken wings.

Continue reading . . .

• 2010 RestaurantNews.com Franchise Guide
• How To Start A Restaurant Following A Profitable System
• Restaurant Franchising
• Quick Service Restaurants, Franchising, and Multi-Unit Chain Management
• Restaurant Planning, Design, and Construction: A Survival Manual for Owners, Operators, and Developers
• The Restaurant: From Concept to Operation
• The Restaurant Business Start-up Guide
• Design and Layout of Foodservice Facilities
• Design and Equipment for Restaurants and Foodservice: A Management View
• Successful Restaurant Design
• Contemporary Japanese Restaurant Design
• Restaurant Planning, Design, and Construction: A Survival Manual for Owners, Operators, and Developers
• Restaurants Clubs and Bars, Second Edition (Library of Planning & Design)
• The Restaurant Manager’s Handbook: How to Set Up, Operate, and Manage a Financially Successful Food Service Operation
• Running a Restaurant for Dummies
• Foodservice Organizations: A Managerial and Systems Approach
• How to Open a Financially Successful Pizza & Sub Restaurant
• Restaurant Financial Basics
• Opening a Restaurant or Other Food Business Starter Kit: How to Prepare a Restaurant Business Plan & Feasibility Study: With Companion CD-ROM
• The Encyclopedia of Restaurant Forms: A Complete Kit of Ready-to-Use Checklists, Worksheets and Training Aids for a Successful Food Service Operation: With Companion CD-ROM
• Start and Run Your Own Coffee Shop and Lunch Bar

To lose one Michelin star may be regarded as a misfortune; to lose two looks like carelessness. But one restaurant has just lost a third.

Staff at The Goose in Britwell Salome, Oxfordshire, which had last month won back its one Michelin star status, have walked out in a dispute over the direction of the business, taking the award with them.

The stone building in the middle of the village cut a forlorn figure yesterday. Its tables lay unset and customers calling to book were greeted by a terse message: due to “unforeseen circumstances”, the restaurant had been closed. A sad-looking notice in a window announced that it was closed for refurbishment and would reopen on 16 March under new management.

The chef, Ryan Simpson, and his staff walked out last week after the owner, Paul Castle, said he wanted to turn the restaurant into a pub. Since taking over as chef, Mr Simpson – the third chef to win a Michelin star there – had worked to regain the award lost when his predecessor left citing financial difficulties.

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After an extensive search process, Nick Shepherd, president and chief executive officer of Carlson Restaurants Worldwide, named Ian Saunders as president and chief operating officer for T.G.I. Friday’s International and a member of the Carlson Restaurants Worldwide executive team.  

In his new role, Saunders will be responsible for all aspects of our International business, leading the International management team, and continuing to refine and execute our aggressive growth strategy.  He comes to Friday’s® with extensive global food service experience and a track record of driving and sustaining aggressive business results in the global marketplace.  

Prior to joining Friday’s, Ian was with Papa John’s International, Inc. where he most recently served as Regional Vice President, Europe, Middle East and Africa.  Prior to Papa John’s, Ian spent six years in General Management roles within the UK-based Geest Ltd., a leading manufacturer and distributor of produce and fresh prepared foods to the food service and retail sector, and fifteen years in various leadership roles at Yum! Brands, Inc. Ian’s formative years were spent working in the casual dining sector with London-based Grand Metropolitan PLC and Whitbread PLC.

“Adding Ian to our international business and our Executive Team is a huge win for us,” said Shepherd.  ”Ian’s extensive global knowledge and innovative thinking combined with his successful track record of driving and sustaining aggressive business growth in the global marketplace, make him the ideal candidate for this key role in our business.”

Saunders, who received his Bachelor of Science in Hotel and Catering Management from the University of Surrey, and his Master of Business Administration from United Kingdom’s Cranfield University, will reside in the United Kingdom.  Saunders first day in his new position will be March 1.  

With more than 900 restaurants in 60 countries, including approximately 600 restaurants in the U.S., T.G.I. Friday’s offers great food, innovative drinks and a unique experience filled with flair and a Thank God It’s Friday’s™ attitude. Friday’s authentic, engaging atmosphere makes it the perfect place to escape, socialize and connect with people while getting a rejuvenating second wind. Members of Give Me More Stripes®, Friday’s guest recognition program, receive free stuff and special perks year-round. As the original casual dining restaurant, T.G.I. Friday’s has a rich heritage which includes being credited with popularizing Happy Hour, Long Island Iced Tea and Loaded Potato Skins. T.G.I. Friday’s is also famous for its flair bartenders, approximately 8000 of whom compete annually for the title of the “World’s Greatest T.G.I. Friday’s Bartender.”  

Carlson Restaurants Worldwide Inc., the parent company of TGI Friday’s Inc., is a privately held company owned by Minneapolis-based Carlson, a world leader in the hospitality and travel industries. As of February 2010, Carlson Restaurants Worldwide owns, operates, franchises or licenses more than 1,000 restaurants in 60 countries. For more information, visit http://www.fridays.com.

Michelin-starred chef Patrick Guilbaud has stepped down as a director of his award-winning restaurant, Restaurant Patrick Guilbaud, according to filings at the Companies Registration Office.

Stephane Robin and Guillaume Lebrun, the manager and chef of Restaurant Patrick Guilbaud, remain as the sole directors of Becklock Limited, the holding company for the restaurant.

Mr Guilbaud’s resignation – which took effect on November 1st, 2009 – comes as Venu, the restaurant run by Patrick Guilbaud’s son Charles, and of which Patrick Guilbaud is the main shareholder and a director, posted a loss of over €230,000 in the 12 months to the end of April 2009.

Continue reading . . .

• Restaurant Planning, Design, and Construction: A Survival Manual for Owners, Operators, and Developers
• The Restaurant: From Concept to Operation
• The Restaurant Business Start-up Guide
• Design and Layout of Foodservice Facilities
• Design and Equipment for Restaurants and Foodservice: A Management View
• Successful Restaurant Design

Two small businesses, one goal: to survive and grow in this economic climate.

The owners of Chicken Chalet and Red Oak restaurant and diner have teamed up to attract more customers, deciding to tackle the challenges of entrepreneurship together from one place, instead of from two separate facilities.

Chicken Chalet in the Town of Chenango closed for good on Dec. 24 after about 20 years in business, owner Kelly Kennedy said. It had 10 employees.

“Business was getting slower. Expenses keep going up,” she said. “I did have a base of customers, just not big enough. … We noticed people who were (previously) coming in two to three times a week were coming in once. Instead of paying $8 on a lunch, they were saving it. It was definitely an economy thing.”

She approached Red Oak owner Michael Kapogiannatos about cooking out of the kitchen of his restaurant, on Front Street in Binghamton.

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Wendy’s/Arby’s Group, Inc., the third largest quick-service restaurant company in the United States, announced that Tom Garrett, President and Chief Executive Officer of Arby’s Restaurant Group, Inc. (“Arby’s”), is leaving the Company.

Roland Smith, 55, President and CEO of Wendy’s/Arby’s Group, will assume the interim role as President of Arby’s, effective immediately, and lead the turnaround of the Arby’s® brand. A search is currently under way for a permanent president of Arby’s.

Smith stated, “Tom made enormous contributions to the Arby’s brand over the past 29 years. He is a man of honor and integrity, who has worked relentlessly to build the brand. We are beginning discussions with Tom about becoming an Arby’s franchisee and hope that he continues to be involved with the brand.”

Garrett, 48, was appointed President and CEO of Arby’s in September 2008, following the formation of Wendy’s/Arby’s Group. Previously, Garrett was President and Chief Operating Officer of Arby’s and held many leadership and operations positions with the Arby’s brand.

Wendy’s/Arby’s Group, Inc. is the third largest quick-service restaurant company in the U.S. and includes Wendy’s International, Inc., the franchisor of the Wendy’s® restaurant system, and Arby’s Restaurant Group, Inc., the franchisor of the Arby’s restaurant system. The combined restaurant systems include more than 10,000 restaurants in the U.S. and 23 countries and territories worldwide. To learn more about Wendy’s/Arby’s Group, please visit the Company’s web site at www.wendysarbys.com.

• Wendy`s/Arby`s Group Inc.(fka Wendy`s International, Inc.)
• Great Taste Endures: 35 Years of Success, The Story of Arby’s Restaurants