More than three years after acquiring Del Taco for $585 million, Jack in the Box has sold the Lake Forest fast-food chain for $115 million, the San Diego-based chain announced Thursday.
Del Taco’s new owner is Yadav Enterprises Inc., a California-based operator of more than 310 franchise restaurants including Jack in the Box and Denny’s.
“This divestiture is an important step in returning to simplicity, and we look forward to focusing on our core Jack in the Box brand,” Lance Tucker, CEO of Jack in the Box said in a Thursday statement. “After a robust process, we are confident we have entered into a transaction with the right steward for Del Taco in its next chapter of evolution.”
Read more in the Oct. 20 print edition of the Business Journal
