Jack in the Box is selling Del Taco to franchisee Yadav Enterprises for $115M, the companies announced Thursday.
Executives at Jack in the Box raised the possibility of a sale in April, as both chains saw declining same-store sales. Jack in the Box said at the time it was considering alternatives for Del Taco as it looked to strengthen its balance sheet. It paid $575 million for Del Taco in 2021.
This is a developing story. Read more on our website for live updates.