Press Release

Kirkland Represents Cambridge Franchise Holdings in its Proposed Acquisition by Carrols Restaurant Group

Kirkland & Ellis advised Cambridge Franchise Holdings, LLC (“Cambridge”) on the sale of more than 200 Burger King© and Popeyes© restaurants to Carrols Restaurant Group, Inc. (“Carrols”) (Nasdaq:TAST) in exchange for common stock and convertible preferred stock of Carrols.  On a fully-diluted, as converted basis, Cambridge would hold an approximate 24% equity interest in Carrols.  The transaction was structured as a tax-free merger.  

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The Kirkland team was led by transactional partner Will Boothby and associate Kristin Rulison, and included partners Eric Schiele and Matt Arenson.