Jack in the Box announces $575M deal to buy Del Taco

Local news
In an aerial view, a sign is posted in front of a Jack in the Box restaurant on May 12, 2021 in Berkeley. Justin Sullivan/Getty Images)

In an aerial view, a sign is posted in front of a Jack in the Box restaurant on May 12, 2021 in Berkeley. Justin Sullivan/Getty Images)

Jack in the Box is buying another major fast food chain based in Southern California, KTLA sister station KRON in San Francisco reports.

The $575 million deal for Jack in the Box to acquire Del Taco is expected to be finalized in early 2022. It would bring the company to 2,800 restaurants spanning 25 states, according to a news release on Monday.

 â€œDel Taco has a loyal, passionate guest base and a strong operating model, and we believe that we can leverage our infrastructure, experience refranchising, and development strategy to support Del Taco’s growth plans and expand Del Taco’s footprint,” said Jack in the Box CEO Darin Harris.

Del Taco Restaurants stock surged 66% after news of the merger went public, according to The Associated Press.

Del Taco sells hamburgers and crinkle fries, as well as its typical Mexican fare of tacos, burritos, nachos and more.

Jack in the Box is known for its eclectic menu, which includes hamburgers, tacos, egg rolls and teriyaki bowls.

The company has previously bought and sold another Mexican chain, Qdoba.

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