Jack in the Box to buy Del Taco in $575M deal

U.S. & World

BERKELEY, CALIFORNIA – MAY 12: In an aerial view, a sign is posted in front of a Jack in the Box restaurant on May 12, 2021 in Berkeley, California. Jack in the Box will report second-quarter earnings today after market close. Jack in the Box surprised analysts in the previous quarter with earnings of 23.4%. (Photo by Justin Sullivan/Getty Images)

SAN FRANCISCO (KRON) — Jack in the Box is buying a major Mexican fast food chain.

The $575 million deal for Jack in the Box to acquire Del Taco is expected to be finalized in early 2022. It would bring the company to 2,800 restaurants spanning 25 states, according to a press release on Monday.

 “Del Taco has a loyal, passionate guest base and a strong operating model, and we believe that we can leverage our infrastructure, experience refranchising, and development strategy to support Del Taco’s growth plans and expand Del Taco’s footprint,” said Jack in the Box CEO Darin Harris.

Del Taco Restaurants stock surged 66% after news of the merger went public, according to The Associated Press. Del Taco sells hamburgers and crinkle fries as well as its typical Mexican fare of burritos, tacos, nachos and more.

Jack in the Box is a hamburger chain based out of California. You can also find tacos, plus egg rolls and teriyaki bowls on their menu. The company has previously bought and sold another Mexican chain, Qdoba.

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