National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Jack in the Box to Acquire Del Taco in $575M Deal
San Diego-based QSR chain Jack in the Box Inc. will acquire Del Taco Restaurants, Inc., the nation’s second largest Mexican QSR chain by unit count, for $12.51 per share in cash in a transaction valued at approximately $575 million, including existing debt. The transaction values Del Taco at a synergy-adjusted multiple of approximately 7.6x trailing 12 months adjusted EBITDA.
Founded in 1964, Del Taco serves more than three million customers each week at approximately 600 restaurants across 16 states. Combined, Jack in the Box and Del Taco will have more than 2,800 restaurants spanning 25 states.
“This is a natural combination of two like-minded, challenger brands with outstanding growth opportunities,” said Darin Harris, CEO of Jack in the Box. “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.”
- ◦Sale/Acquisition
