TL;DR
Jack in the Box partnered with The Cypress Group to manage the sale of certain company-owned Del Taco restaurants to existing and new franchisees. The sale is part of Jack in the Box's effort to refranchise its newly-acquired Del Taco brand.
(BUSINESS WIRE) - November 02, 2022 - Jack in the Box Inc. (NASDAQ: JACK) today announced that it has partnered with The Cypress Group to manage the sale of certain company-owned Del Taco restaurants, which currently make up roughly half of the brand’s total restaurant count, to existing and new franchisees.
The sale process will begin immediately and represents the next step toward asset-light portfolio optimization of the Del Taco system.
Jack in the Box completed its acquisition of Del Taco last March and seeks to make meaningful progress in 2023 on refranchising its newly-acquired brand
“Del Taco includes the opportunity to create a multi-brand organization that operates asset-light, with the ability to make significant refranchising progress shortly after completion,” said Darin Harris, Jack in the Box chief executive officer. “Between our recent experience refranchising Jack in the Box, and now adding The Cypress Group through this partnership, we feel we are well equipped to make progress toward this objective during 2023.”
In this story
This story was originally published in Franchising.com on November 4, 2022. Burnaze summarizes and links to the original reporting.
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