Jack in the Box buying Del Taco in $575 million deal

Jack successful the Box announced Monday that it would get Del Taco for astir $575 million, excluding existing debt.

Del Taco has astir 600 restaurants crossed 16 states. It's the second-largest Mexican-style fast-food edifice successful the country.

"Jack successful the Box and Del Taco volition person much than 2,800 restaurants spanning 25 states with akin impermanent profiles, paper offerings and institution cultures – some priding themselves connected serving guests with unsocial variety, quality, innovation and value," Jack successful the Box said successful a property release.

Jack successful the Box believes Del Taco volition beryllium a bully acceptable owed to its concern model. The institution says 99% of its stores person a drive-thru, "helping to execute beardown off-premise sales."

Jack successful the Box expects to adjacent the woody by March of 2022.

Jack successful the Box antecedently owned the Qdoba edifice chain.

According to the Associated Press, the concatenation of Mexican restaurants was a sore spot connected Jack successful the Box’s wide concern owed to mediocre sales.