![]() Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Other recent deals include Johnny Rockets and Fatburger owner FAT Brands announcing it will buy Native Grill & Wing, while BurgerFi is buying Anthony’s Coal Fired Pizza & Wings from L Catterton. (QSR) - which owns Burger King, Popeyes and Tim Horton’s - said in November that it is buying Firehouse Subs. Jack is one of many restaurant chains expanding its portfolio lately. That interest has only grown: A Technomic consumer survey found about 52% of quick-service restaurant orders were placed in drive-thrus in August 2021, compared to about 42% in January 2020. The drive-thru has become increasingly important to fast food restaurants during the pandemic, when many customers felt safer in their cars than restaurants. That’s a “key differentiation” from Qdoba, which doesn’t have many drive-thrus, Harris added. (TACO) restaurants have a drive-thru, compared with about 90% Jack in the Box locations. (TACO) will be a better fit, said Harris on Monday, because it attracts customers similar to those who already shop at Jack in the Box, operates in the same markets and has a similarly hefty drive-thru business: 99% of Del Taco (JACK) acquired the fast-casual Mexican chain Qdoba in 2003 and announced the decision to sell it in 2017 after the brand had been struggling with declining sales, closing the deal the following year. Jack in the Box, on the other hand, fell about 4% to roughly $80.5 a share. Shares of the company jumped nearly 66% to about $12.5 on the news. Investors see this as a good move for Del Taco. Jack in the Box and Del Taco are joining forces. “This will allow Jack and Del Taco to better engage with their existing guests and reach new ones.” “Joining forces will provide additional resources to drive innovation to create more unique, innovative menu items and exceptional guest experiences,” Jack in the Box CEO Darin Harris said during a Monday analyst call discussing the deal. Together, the California-based brands will have over 2,800 restaurants in 25 states and will be better positioned to compete with large quick-service restaurants, the companies said. Jack in the Box serves an eclectic array of food from burgers to egg rolls, but the chain has made something of a name for itself with its tacos - and despite getting mixed reviews, they’ve long been a top-selling item for the brand.ĭel Taco could be seen as the reverse: It specializes in tacos, quesadillas and other American-style Mexican fare, but it also sells American dishes like burgers. The deal, which is expected to close early next year, doubles down on Jack in the Box’s success with tacos. Three years after ditching Qdoba Mexican Eats, Jack in the Box is scooping up Del Taco in a $575 million deal. ![]()
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