July 31, 2014
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Lake Forest-based Del Taco Restaurants Inc. (Nasdaq: TACO) hired Denver-based Cypress Group to refranchise company-operated locations in four unnamed, “non-core” Western markets by next summer.
Del Taco Restaurants Inc. in Lake Forest said franchisee Team Schostak Family Restaurants will open 12 locations in the Detroit market; it currently runs five in Michigan, with a sixth in development.
Del Taco Restaurants Inc. in Lake Forest earned net income of about $4 million on revenue of $105 million in the first quarter, compared with the same period last year.
Del Taco Restaurants Inc. in Lake Forest said two franchisees would open 14 stores in the Phoenix market.
Lake Forest-based Del Taco Restaurants Inc. plans to enter a new market in 2018 with the first of six franchised stores in Pennsylvania.
Lake Forest-based Del Taco Holdings Inc. would cut its debt by $139 million—or more than 40%—if its acquisition by Chicago-based Levy Acquisition Corp. closes as planned in June, according to documents filed with the U.S. Securities and Exchange Commission.
Chicago-based blank check company Levy Acquisition Corp. plans to buy Lake Forest-based Del Taco Holdings Inc. in a deal that values Del Taco at about $500 million, according to Levy.
Lake Forest-based Del Taco LLC said it will begin franchising in New Jersey, its first restaurants in the Northeast U.S.
Lake Forest-based Del Taco LLC said it will open 28 new locations in the Southeast United States.
Lake Forest-based Del Taco LLC said it will offer incentives for franchisees in new markets as well as for military veterans and members of minority groups.