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CHECKERS DRIVE-IN RESTAURANTS, INC. ANNOUNCES ACQUISITION OF TAC ENTERPRISES OUTSTANDING CAPITAL STOCK

 CLEARWATER, Fla., July 1 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) today announced that it had acquired all of the outstanding shares of capital stock of TAC Enterprises, Inc., an owner and operator of two Checkers franchised restaurants in the North Palm Beach, Fla. area, in exchange for shares of Checkers' common stock having a value of approximately $2,750,000. The franchisee also has the right to develop an additional five restaurants in the North Palm, Jupiter and Stuart, Fla. areas which is a dynamic growth market for Checkers.
 Checkers also announced that it had completed the acquisition of all of the outstanding shares of capital stock of BLTS, Inc. and related corporations, which operate five Checkers franchised restaurants in the Orlando, Fla. area, and Keller Investment Properties, et al., which operates three Checkers franchised restaurants in the Lakeland/Winter Haven, Fla. area. The execution of the definitive agreements for these transactions was previously announced on June 14, 1993.
 It is expected that all of these transactions will be accounted for as a pooling of interests for financial reporting purposes as of June 30, 1993, and will have no dilutive effect on the earnings per share of Checkers.
 Herbert G. Brown, chairman of the board of Checkers stated: "We are very excited about the opportunity to acquire these restaurants and to further develop rapidly growing markets contiguous to our existing areas."
 During the second quarter, the company opened 16 company-operated and 15 franchised restaurants. As of June 30, 1993, after taking into effect the above described acquisitions, the company had 151 company- operated and 136 franchised restaurants for a total of 287 restaurants. Checkers and its franchisees are currently operating in 18 states. Checkers develops, produces, owns, operates and franchises double drive-thru quick service hamburger restaurants under the name "Checkers".
 -0- 7/1/93
 /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc.; TAC Enterprises, Inc. ST: Florida IN: LEI SU: TNM

AW-RC -- FL008 -- 7685 07/01/93 11:29 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:338
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