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CHECKERS BUYS 13 FRANCHISE RESTAURANTS; ANNOUNCES JOINT VENTURE AGREEMENT WITH FRANCHISEE

 CLEARWATER, Fla., July 26 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR), the nation's fastest growing double drive-thru hamburger chain, today announced that it had entered into an agreement to purchase 10 franchised restaurants in Atlanta and three franchised restaurants in Philadelphia from partnerships in which La-Van Hawkins, president and chief executive officer of La-Van Hawkins & Associates, Inc., was the operating partner and a franchisee of the company. It is expected that each of the transactions will be accounted for as a pooling of interests for financial reporting purposes and will have no dilutive effect on the earnings per share of the company. The transactions are expected to close on or before Aug. 15, 1993, subject to completion of certain due diligence matters.
 In addition, the company announced it was entering into a joint venture agreement with Hawkins to further develop restaurants in the Atlanta and Philadelphia markets and other selected markets. The company will be a 75 percent partner in the joint venture and Hawkins will be a 25 percent partner in a corporation controlled by the joint venture. It is expected that a minimum of 15 new restaurants will be developed by the joint venture during the balance of 1993 and 25 restaurants in 1994. These restaurants are in addition to the 75 restaurants that the company previously announced it expected to open in 1993.
 In commenting on these transactions, Herbert G. Brown, chairman of the board of the company, stated: "We are extremely pleased to add these restaurants to the 16 restaurants and three restaurants we are currently operating in Atlanta and Philadelphia, respectively. Mr. Hawkins is one of our original franchisees, was the recipient of the company's prestigious Operator of the Year Award in 1992, and a strong advocate of the Checkers' concept. This transaction will help us accelerate our development of these markets and is consistent with our strategy of selectively acquiring high volume restaurants from franchisees in existing markets that have future development potential."
 Checkers develops, produces, owns, operates and franchises double drive-thru quick service hamburger restaurants under the name "Checkers". As of June 30, 1993 there were 151 company operated restaurants and 136 franchised restaurants, for a total of 287 restaurants.
 -0- 7/26/93
 /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc.; La-Van Hawkins & Associates,
 Inc. ST: Florida, Georgia, Pennsylvania IN: LEI SU: TNM JVN


RC-AW -- FL004 -- 5576 07/26/93 09:56 EDT
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Publication:PR Newswire
Date:Jul 26, 1993
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