SAN DIEGO — Jack in the Box Inc. accomplished its acquisition of Del Taco Restaurants, Inc. for about $585 million. The transaction was first introduced in December.
Under phrases of the settlement and plan of merger, Del Taco stockholders will obtain $12.51 per share in money, and Del Taco’s widespread inventory will stop buying and selling as of March 8 on the Nasdaq and can be delisted.
The deal positions Jack in the Box and Del Taco as stronger gamers in the quick-service area, mentioned Darin Harris, chief govt officer of Jack in the Box. The firms have comparable visitor profiles and menu choices, with a shared deal with distinctive selection and worth propositions.
“We have ambitious growth plans for our combined company, and we are excited for the many exciting opportunities ahead,” Mr. Harris mentioned. “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.”