Carrols Corporation Commences Cash Tender Offer and Consent Solicitation for Its Outstanding 9% Senior Subordinated Notes Due 2013

Carrols Restaurant Group, Inc. TAST announced today that Carrols Corporation has commenced an offer to purchase for cash any and all of the $165 million outstanding principal amount of its 9% Senior Subordinated Notes due 2013. In conjunction with the tender offer, Carrols Corporation is soliciting consents to effect certain proposed amendments to the indenture governing the Notes. The tender offer and consent solicitation are being made pursuant to an Offer to Purchase and Consent Solicitation Statement, dated July 22, 2011, and a related Consent and Letter of Transmittal, which set forth the terms and conditions of the offer and consent solicitation in full detail.