Business

Where’s the beef?

Wendy’s is flirting with Carl’s Jr.

Billionaire fast-food tycoon Nelson Peltz, whose firm controls Wendy’s/Arby’s Group, is seriously considering making a bid for CKE, the owner of Hardee’s and Carl’s Jr., a source close to the process said.

Wendy’s/Arby’s is the nation’s third-largest restaurant chain, more than double the size of CKE.

Private-equity firm THL Partners last month reached an agreement to buy the publicly listed CKE for $928 million, but CKE is looking for bigger offers until April 6.

Peltz’s Trian Fund Management is studying CKE, looking at its financials, and seeing if there is any strategic advantage to adding Hardee’s and Carl’s to their menu, the source said.

Carl’s is big in the West; its edgier burger brand is aimed at single guys between 18 and 25.

“It might be offensive to some of Wendy’s customers to combine the brands,” the source said.

Peltz has good knowledge of CKE — as of the fourth quarter of last year, Trian owned a 3.9 percent stake.

There are several private-equity firms that have also considered making rival bids, but they seem to be losing interest, the source said.

During the past few years it has not been easy to sell burgers. Only McDonald’s is seeing same-store sales gains, with Wendy’s, Carl’s and Hardee’s, a southern chain, experiencing declines.

“CKE has lower margins than some of its competitors,” the source said, adding that the appeal of buying the company is that one could lower overhead and increase profits. “It is not a growth story.”

A Trian spokeswoman declined to comment. josh.kosman@nypost.com