It’s official. Del Taco has been sold.
Fast-food chain Jack in the Box announced this week that it has completed the $119 million sale to Yadav Enterprises Inc in a move that has been expected since October.
Del Taco, which started in California in 1964 and has more than 550 restaurants, was sold to Jack in the Box in 2022 for approximately $585 million.
Jack in the Box says the sale is part of a plan to strengthen the company’s balance sheet and accelerate its shift toward a simpler, asset-light business model.
“Our sale of Del Taco represents meaningful progress in simplifying our business model and reducing our debt,” said Lance Tucker, Chief Executive Officer of Jack in the Box.
“We remain committed to elevating the Jack in the Box brand and improving operational performance to drive sustainable, long-term growth and create value for our shareholders. We appreciate the Yadav team’s partnership during this transition and wish the Del Taco brand well in their next chapter.”
Yadav Enterprises Inc. operates more than 310 franchise restaurants including Jack in the Box, Denny’s, and TGI Friday’s.
It also owns the Taco Cabana brand, a fast-casual, Tex-Mex restaurant chain and Nick the Greek, a fast-casual, Greek restaurant chain consisting of 90 locations.
