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CHECKERS DRIVE-IN RESTAURANTS ENTERS AGREEMENTS TO ACQUIRE OUTSTANDING SHARES OF BLT'S INC., KELLER INVESTMENT PROPERTIES, ET AL

 CLEARWATER, Fla., June 14 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) today announced that it had entered into definitive agreements to acquire all of the outstanding shares of capital stock of BLT's Inc. and related corporations ("BLTs") and Keller Investment Properties, et al. ("Keller") in exchange for shares of Checkers' Common Stock having a value of approximately $8,900,000 and $3 million, respectively.
 BLTs currently owns and operates five Checkers restaurants, has one Checkers restaurant under construction, and has the right to develop an additional 15 Checkers restaurants in the greater Orlando, Fla. area. Keller currently owns and operates three Checkers restaurants, and has the right to develop an additional three Checkers restaurants in the Lakeland/Winter Haven, Fla. areas. It is expected that each of the transactions will be accounted for as a pooling of interest for financial reporting purposes, and will have no dilutive effect on the earnings per share of Checkers. The transactions are expected to close on or before June 30, 1993, subject to the completion of certain due diligence matters.
 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 a market that is one of our strongest. The existing restaurants are contiguous to other Checkers' territories with numerous company-operated locations and are very profitable."
 Checkers develops, produces, owns, operates, and franchises double drive-thru quick service hamburger restaurants under the name "Checkers." At June 14, 1993, Checkers has 276 restaurants in operation, 133 operated by Checkers and 143 operated by franchisees.
 -0- 6/14/93
 /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc.; BLT's Inc.; Keller Investment
 Properties, et al. ST: Florida IN: LEI SU:


JB-PC -- FL005 -- 1652 06/14/93 12:29 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
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