Jack in the Box Inc. (JACK), a fast food restaurant chain, said on Thursday that it has inked a deal to sell its subsidiary, Del Taco Holdings Inc., for $115 million in cash to Yadav Enterprises Inc., an operator of franchise restaurants.
The transaction is expected to close by January 2026. The seller intends to use the net proceeds from the sale to repay a part of the existing fixed-rate senior secured notes and debt.
Lance Tucker, CEO of Jack in the Box Inc., said: "This divestiture is an important step in returning to simplicity, and we look forward to focusing on our core Jack in the Box brand."
JACK was up by 2.13% at $19.69 in the pre-market trade on the Nasdaq.
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