Jack in the Box Buys Del Taco , for $575 Million.
Jack in the Box Buys Del Taco , for $575 Million.
CNBC reports Jack in the Box will pay $12.51 per share in cash to acquire the second-largest Mexican fast-food chain in America.
This is a natural combination of two like-minded, challenger brands with outstanding growth opportunities, Darin Harris, Jack in the Box CEO, via statement.
Together, Jack in the Box and Del Taco will benefit from a stronger financial model, gaining greater scale to invest in digital and technology capabilities, and unit growth for both brands, Darin Harris, Jack in the Box CEO, via statement.
Together, Jack in the Box and Del Taco will benefit from a stronger financial model, gaining greater scale to invest in digital and technology capabilities, and unit growth for both brands, Darin Harris, Jack in the Box CEO, via statement.
The deal is expected to close in Q1 of 2022.
Currently, Del Taco has about 600 restaurants throughout 16 states.
After the deal is finalized, the combined company will operate over 2,800 stores across 25 states.
Jack in the Box predicts that by the end of fiscal year 2023, it will accrue nearly $15 million in benefits from the acquisition.
