Business
Jack in the Box Inc. Announces Definitive Agreement to Sell Del Taco Holdings Inc. to Yadav Enterprises Inc.
SAN DIEGO--(BUSINESS WIRE)-- Jack in the Box Inc. (NASDAQ: JACK) (the “Company”) today announced that it has entered into a definitive agreement to sell Del
About this update from Jack In The Box Inc.
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nJack in the Box Inc. (NASDAQ: JACK) (the “Company”) today announced that it has entered into a definitive agreement to sell Del Taco Holdings Inc. (“Del Taco”), a wholly owned subsidiary of the Company which operates and franchises more than 550 Del Taco restaurants, to Yadav Enterprises Inc. (“Yadav”) for $115 million in cash, subject to certain adjustments.\n\n\nThe transaction is expected to close by January 2026. The Company expects to use the net cash proceeds after taxes and transaction costs to retire debt within its securitization structure, specifically to repay part of the Company’s existing Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II.\n\n\nIn line with the Company’s “Jack on Track” plan announced in April, the divestiture of Del Taco allows for the strengthening of the Company’s balance sheet and initiates the return of Jack in the Box to a simpler, asset-light business model.\n\n\nLance Tucker, Chief Executive Officer of Jack in the Box Inc., said, “This divestiture is an important step in returning to simplicity, and we look forward to focusing on our core Jack in the Box brand. 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. We wish Del Taco success as they enter this next chapter.”\n\n\nThe transaction is subject to the satisfaction or waiver of customary closing conditions.\n\n\nBofA Securities Inc. is serving as exclusive financial advisor to the Company, and Sullivan & Cromwell LLP is serving as its legal counsel in connection with this transaction. Yadav Enterprises Inc. is represented in this transaction by its General Counsel Steven M. Kries and advised by Baker Tilly.\n\n\nThe Company intends to provide guidance for fiscal year 2026 and updates to other components of the “Jack on Track” plan in connection with its earnings release on November 19, 2025.\n\n\nAbout Jack in the Box Inc.\n\n\nJack in the Box Inc. (NASDAQ: JACK), founded and headquartered in San Diego, California, is a restaurant company that operates and franchises Jack in the Box®, one of the nation's largest hamburger chains with approximately 2,160 restaurants across 22 states, and Del Taco®, the second largest Mexican-American QSR chain by units in the U.S. with over 550 restaurants across 1...