Jack in the Box is buying out Del Taco, the country’s second-largest Mexican fast-food chain, in a deal worth $575 million, which includes existing debts, according to a company statement published Monday. “This is a natural combination of two like-minded, challenger brands with outstanding growth opportunities. Together, Jack in the Box and Del Taco will benefit from a stronger financial model, gaining greater scale to invest in digital and technology capabilities, and unit growth for both brands,” said Darin Harris, CEO of Jack in the Box. The company will pay $12.51 per share in cash in a transaction that has valued Del Taco at an adjusted multiple of almost 7.6 times trailing twelve months adjusted earnings before interest, taxes, depreciation, and amortization. Based in San Diego, Jack in the Box was founded in 1951 and currently operates more than 2,200 hamburger restaurants in 21 states and Guam. Headquartered in Orange …
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