Jack in the Box officials say the deal will help both companies expand
Fast food heavyweight Jack in the Box will acquire Del Taco, another West Coast chain, in a deal the two companies say is valued at $575 million, including debt.... [+]The deal will help both companies expand, Jack in the Box officials said Monday morning in a public call with shareholders, and the companies expect to seeJack in the Box will acquire each Del Taco share for $12.51 in cash, the companyMonday morning in response to the news, jumping by nearly 65% to $12.41 per share.
Shareholders of the Mexican fast food company are slated to vote on the acquisition in either February or March, with the deal likely to be finalized during theJack in the Box is one of the country’s largest burger chains, with more than 2,200 restaurants in 21 states and a location in Guam, according to the company. In the fiscal year 2021, which ended in October, the company made $1.14 billion in revenue.
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