(KRON) – Jack in the Box on Monday announced plans to acquire Mexican fast food chain Del Taco in a $ 575 million deal.
The acquisition, which is expected to be finalized in early 2022, would bring the company to 2,800 restaurants in 25 states, according to a press release.
Shares of Del Taco Restaurants jumped 66% after news of the merger broke, according to the Associated Press. Del Taco sells burgers and wavy fries as well as Mexican dishes like burritos, tacos, and nachos.
“Del Taco has a loyal and passionate customer base and a strong operating model, and we believe we can leverage our infrastructure, refranchising experience and development strategy to support Del Taco’s growth plans and expand Del Taco’s footprint, ”said Jack in the Box. CEO Darin Harris.
Jack in the Box is a California-based burger chain, but their menu has an eclectic array of offerings. They also serve tacos, spring rolls and teriyaki bowls.
The company has already bought and sold another Mexican chain, Qdoba.
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