Jack in the Box is a hamburger chain that has had an affinity with tacos for a very long time. They’ve been on their menu for decades, but now Jack is buying an entire taco franchise, and the deal should be done in early 2022.
The cost? $575 million, and when combined, this mega fast-food monster will have over 2,800 restaurants in 25 states. More importantly, it puts them in position they hope to compete with more considerable name competition.
Here’s what Jack in the Box CEO Darrin Harris said.
“Joining forces will provide additional resources to drive innovation to create more unique, innovative menu items and exceptional guest experiences. This will allow Jack and Del Taco to better engage with their existing guests and reach new ones.”
Wall Street investors devoured this news, as shares of Del Taco jumped almost 66% Monday. The stock price for Jack in the Box dipped 4% on the news.
This is a trend in the restaurant business. Restaurant Brands International is the owner of Popeyes, Burger King, and Tim Horton’s, and they are adding Firehouse Subs to their portfolio of restaurants.
The owner of Jonny Rockets and Fatburger (FAT Brands) announced they would buy Native Grill & Wing.
As long as it doesn’t slow people down in a drive-through at 1 AM, all these mergers shouldn’t be a big deal to consumers.
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