Jack in the Box completes acquisition of Del Taco

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SAN DIEGO–(BUSINESS WIRE)–Jack in the Box Inc. (NASDAQ:JACK) announced today that it has completed the previously announced acquisition of Del Taco Restaurants, Inc. (NASDAQ:TACO) for approximately $585 million. With the closing of the acquisition, Jack in the Box and Del Taco are now positioned as stronger QSR players with greater scale and the ability to improve the customer experience while pursuing profitable growth.

With similar customer profiles, menu offerings and corporate cultures – both proud to serve customers with unique variety, quality, innovation and value – they are both confident that they will unlock significant opportunities for franchisees, employees, investors and guests.

“Today marks an important milestone in our company’s history as we officially welcome Del Taco to the Jack in the Box family,” said Darin Harris, CEO of Jack in the Box. “We have ambitious growth plans for our combined company, and we’re excited for the many exciting opportunities ahead. Together, Jack in the Box and Del Taco will benefit from a stronger financial model, greater scale to invest in digital and technological capabilities, and unitary growth for both brands.

John D. Cappasola, Jr., President and CEO of Del Taco, said, “We are extremely proud to partner with the Jack in the Box brand and are thrilled to have found a partner who shares a culture and a similar passion for what We do. We expect this transaction to significantly strengthen and grow our beloved brands. »

Under the terms of the agreement and merger plan, Del Taco shareholders will receive $12.51 per share in cash, and Del Taco common stock will cease trading effective today on NASDAQ. and will be deleted.

About Jack in the Box Inc.

Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant company that operates and franchises Jack in the Box® restaurants, one of the nation’s largest hamburger chains, with more than 2 200 restaurants in 21 states and Guam. . For more information on franchise opportunities with Jack in the Box, visit JackintheBoxFranchising.com.

About Del Taco Restaurants, Inc.

Del Taco (NASDAQ:TACO) offers a unique variety of Mexican and American dishes such as burritos and fries, prepared fresh in each restaurant’s working kitchen with the value and convenience of drive-thru. Del Taco’s menu items taste better because they’re made with quality ingredients like freshly grilled chicken and steak de carne asada, fresh house-made guacamole, freshly grated cheddar cheese, slow-cooked beans, and Queso White creamy.

Founded in 1964, Del Taco today serves more than three million customers each week at its more than 600 restaurants in 16 states. Del Taco’s commitment to providing customers with the best quality and value comes from cooking, chopping, shredding and grilling menu items from scratch. For more information, visit www.deltaco.com.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements can be identified by words such as “anticipate”, “believe”, “estimate”, “expect”, “anticipate”, “objectives”, “direction”, “intend”, “plan”, “project”, “may”, “will”, “would” and similar expressions. These statements are based on Jack in the Box’s and Del Taco’s management’s current expectations, estimates, forecasts and projections regarding their respective businesses and the industry in which they operate. These estimates and assumptions involve known and unknown risks, uncertainties and other factors, which in some cases are beyond the control of Jack in the Box management. These risks, uncertainties and assumptions include, but are not limited to: the outcome of any legal proceedings that have been or may be brought against the parties or others as a result of the announcement and completion of the transactions contemplated by the merger agreement; challenges, disruptions and costs of closing, integrating and realizing anticipated synergies, or that such synergies will take longer to realize than expected; the risks that the merger and other transactions contemplated by the merger agreement will disrupt ongoing plans and operations that could adversely affect Jack in the Box’s or Del Taco’s business or distract management’s attention from their business operations In progress ; the amount of any costs, fees, expenses, impairments and charges relating to the merger; and uncertainty as to the effects of the completion of the merger on the market price of the common stock of Jack in the Box and/or on their respective financial performance. Additional risks and uncertainties regarding Jack in the Box and Del Taco are discussed in each company’s respective annual report on Form 10-K and periodic reports on Form 10-Q filed with the SEC, which are freely available online at http://investors.jackinthebox.comin the case of Jack in the Box, and to www.deltaco.comin the case of Del Taco, as well as on the SEC’s website at www.sec.gov. Neither Jack in the Box nor Del Taco undertakes to update or revise any forward-looking statement, whether as a result of new information or otherwise.

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