Jumbo Deal: Jack in the Box to buy Del Taco for $575M
LOS ANGELES - An extra-large combo between two California fast-food giants is in the works with Jack in the Box looking to buy Del Taco.
According to an announcement published on Business Wire, Jack in the Box Inc. will purchase Del Taco Restaurants, Inc. for about $575 million.
Jack in the Box, headquartered in San Diego, will acquire Del Taco, headquartered in Lake Forest, for about $12.51 per share and will take over existing debt, according to the announcement.
Get your top stories delivered daily! Sign up for FOX 11’s Fast 5 newsletter. And, get breaking news alerts in the FOX 11 News app. Download for iOS or Android.
"We are thrilled to welcome Del Taco, a beloved brand and proven regional winner, to the Jack in the Box family," said Jack in the Box CEO Darin Harris in a press release via Business Wire, in part.
Neither company specified in their announcements published on Business Wire how much change the acquisition will bring to their food menus.
The acquisition is expected to close in the first calendar quarter of 2022, according to the release published on Business Wire.
Tune in to FOX 11 Los Angeles for the latest Southern California news.