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.

SYRACUSE, N.Y.--(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.

The agreements provide for the sale by Madison Dearborn and BIB Holdings of a
total of 6,559,739 shares of Carrols Restaurant Group`s common stock comprising
approximately 30.4% of Carrols Restaurant Group`s outstanding common stock. The
transactions are expected to close on or about July 2, 2009. In connection with
the transaction, the Company has entered into a registration rights agreement
with the purchasers providing for certain demand and piggyback registration
rights with respect to the common stock held by such funds or their affiliates.

BIB Holdings initially acquired a controlling interest in Carrols Restaurant
Group in 1996 and Madison Dearborn initially acquired its interest in Carrols
Restaurant Group from BIB Holdings in 1997. BIB Holdings and Madison Dearborn
previously sold shares of Carrols Restaurant Group`s common stock in Carrols
Restaurant Group`s initial public offering which was completed in December 2006.

Alan Vituli, the Chairman and Chief Executive Officer of Carrols Restaurant
Group, Inc. commented, "We are pleased that this transaction is moving forward.
It fulfills the objectives of our two longstanding institutional shareholders,
Madison Dearborn and BIB Holdings, to provide liquidity to their investors while
giving Carrols Restaurant Group a new significant shareholder who has
significant experience in the restaurant industry and who is very familiar with
our Company."

It is anticipated that if the transactions close, Robin P. Selati, a Managing
Director of Madison Dearborn Partners, LLC and Olaseni Adeyemi Sonuga, the
General Manager of Bahrain International Bank (E.C.) will both resign from the
Board of Directors of Carrols Restaurant Group, Inc. effective upon the closing
of each of the transactions, and Brian Friedman, the President of Jefferies
Capital Partners and Nicholas Daraviras, a Managing Director of Jefferies
Capital Partners will be elected to the Board of Directors to replace Messrs.
Selati and Sonuga.

Jefferies Capital Partners is a private equity investment firm focused on select
industries, including the Consumer and Restaurant sectors. It is an affiliate of
Jefferies & Company, Inc., a New York based investment bank. Brian Friedman is
President and Founder of Jefferies Capital Partners and also serves as Chairman
of the Executive Committee of Jefferies Group, Inc.

About the Company

Carrols Restaurant Group, Inc., operating through its subsidiaries, including
Carrols Corporation, is one of the largest restaurant companies in the United
States. The Company operates three restaurant brands in the quick-casual and
quick-service restaurant segments with 559 company-owned and operated
restaurants in 17 states as of March 29, 2009, and 29 franchised restaurants in
the United States, Puerto Rico and Ecuador. Carrols Restaurant Group owns and
operates two Hispanic Brand restaurants, Pollo Tropical and Taco Cabana. It is
also the largest Burger King franchisee, based on number of restaurants, and has
operated Burger King restaurants since 1976.

Forward-Looking Statements

Except for the historical information contained in this news release, the
matters addressed are forward-looking statements. Forward-looking statements,
written, oral or otherwise made, represent the Company`s expectation or belief
concerning future events. Without limiting the foregoing, these statements are
often identified by the words "may," "might," "believes," "thinks,"
"anticipates," "plans," "expects," or similar expressions. In addition,
expressions of our strategies, intentions or plans are also forward-looking
statements. Such statements reflect management`s current views with respect to
future events and are subject to risks and uncertainties, both known and
unknown. You are cautioned not to place undue reliance on these forward-looking
statements as there are important factors that could cause actual results to
differ materially from those in forward-looking statements, many of which are
beyond our control. Investors are referred to the full discussion of risks and
uncertainties as included in the Company`s and Carrols Corporation`s filings
with the Securities and Exchange Commission.

Carrols Restaurant Group, Inc.
Investor Relations:
800-348-1074, ext. 3333

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