Carrols Restaurant Group, Inc. Announces the Agreement of Funds Managed by Jefferies Capital Partners to Purchase from Madison Dearborn and BIB Holdings All of Their Common Stock of Carrols Restaurant Group, Inc.

Business Wire -- Carrols Restaurant Group, Inc. (Nasdaq: TAST), the parent Company of Carrols Corporation, today announced that its long-time institutional investors, funds managed by affiliates of Madison Dearborn Partners, LLC and BIB Holdings (Bermuda) Ltd., a wholly-owned subsidiary of Bahrain International Bank (E.C.), each entered into agreements to sell all of their common stock holdings in Carrols Restaurant Group, Inc. to funds managed by Jefferies Capital Partners, a private equity investment firm with over $1 billion in equity funds under management.