News

Checkers, Rally's up for sale by private equity owner

August 30, 2012

Tampa, Fla.-based Checkers Drive-In Restaurants Inc. could be up for sale by owner and private equity company Wellspring Capital Management. According to Reuters, Wellspring has hired North Point Advisors and Harris Williams & Co. to assist with the sale.

Checkers operates more than 800 restaurants under the Checkers and Rally's names.

Sources are estimating the company could be worth more than $300 million. The process is currently in the "management presentation stage" with first round bid solicitation.

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