Who manages the private equity funds that control the affiliated franchise programs of Hardees?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
Through control with private equity funds managed by Roark Capital Management, LLC, we are affiliated with the following franchise programs ("Affiliated Programs"). None of these affiliates operate a Hardee's Restaurants franchise.
Source: Item 1 — The Franchisor and any Parents, Predecessors, and Affiliates (FDD pages 9–22)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the private equity funds that control the affiliated franchise programs are managed by Roark Capital Management, LLC. These affiliated programs do not operate a Hardee's Restaurant franchise. Some of the affiliated franchise programs include GoTo Foods Inc., which is the indirect parent company to franchisors such as Auntie Anne's, Carvel, Cinnabon, Jamba, McAlister's, Moe's, and Schlotzsky's.
This means that while Hardees is part of a larger network of franchise brands through its affiliation with Roark Capital Management, these other brands are operated separately and do not directly impact the operations of a Hardees franchise. A Hardees franchisee would not be directly involved with the management or operations of these affiliated brands.
It's important for prospective franchisees to understand the structure of the parent company and its affiliations, as this can provide insights into the resources and expertise available to the franchise system. However, the FDD clearly states that these affiliated programs are distinct from Hardees, so franchisees should focus primarily on the Hardees franchise opportunity itself.