Del Taco Restaurants sold all eight company-owned locations in the Reno, Nev., market to franchisee Mark Miller, a partner in Portland, Ore.-based 3 Brothers Restaurants. The franchisee operates a dozen restaurants in the Pacific Northwest and has agreed to open 10 more in that region over the next seven years.

Lake Forest-based Del Taco in May hired Denver-based Cypress Group to refranchise company-operated locations in four unnamed, “non-core” Western markets, by the middle of next year. The chain has 580 locations in 14 states, about half of which are company-owned in an industry that tends to favor franchising.

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The fast food chain in August was reported in trade journals to be the subject of takeover talks by private equity or a larger restaurant holding company. It’s been public (Nasdaq: TACO) since July 2015, after being bought by a SPAC or special purpose acquisition corporation controlled by Chicago restaurateur Larry Levy and his family.

It’s the No. 6-ranked OC-based restaurant chain with $810 million in systemwide sales; it traded recently at a $261 million market cap, down 34% on the year and 50% from its 52-week high of $13.50 in early July.