Del Taco Chain Sold To Fremont-Based Company In Multi-Million Dollar Deal

FREMONT, CA — A Fremont-based company has bought the Del Taco food chain as part of a multi-million dollar deal.

Jack in the Box Inc. announced that it had agreed to a $115 million cash deal to sell Del Taco Holdings Inc. to Yadav Enterprises. Yadav Enterprises Inc. is headquartered in Fremont and operates hundreds of franchise restaurants, including Denny's, TGI Fridays and Jack in the Box. It also owns Taco Cabana and Nick the Greek, which started in the Bay Area.

The transaction finalized Thursday, and is is expected to close by early next year, according to a press release by Jack in the Box Inc.

"This divestiture is an important step in returning to simplicity, and we look forward to focusing on our core Jack in the Box brand," said Lance Tucker, Chief Executive Officer of Jack in the Box Inc. "After a robust process, we are confident we have entered into a transaction with the right steward for Del Taco in its next chapter of evolution."

The deal will give Yadav Enterprises ownership of more than 550 Del Taco restaurants, according to the press release.