It's been announced today that Jack In The Box will be acquiring Del Taco at $12.51 per share, or for an estimated $575 million. Too bad the Del's Dollar Deals didn't apply for this purchase.
Jack In The Box CEO, Darin Harris (sorry, not Jack Box), had the following to say regarding the acquisition, "This is a natural combination of two like-minded, challenger brands with outstanding growth opportunities. 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. This acquisition fits squarely in our strategic pillars and helps us create new opportunities for the franchisees, team members and guests of both brands."
For franchisees, this gives them the opportunity to open both Jack In The Box and Del Taco concepts, thus helping expand both the over 2,200-location Jack In The Box and over 600-location Del Taco brands.
The purchase is forecast to be completed by the first quarter of 2022, pending approval from Del Taco shareholders and regulators.