The Jack in the Box store in Broomfield, Colorado. November 18, 2014. REUTERS/Rick Wilking
(Reuters) – Gibson, Dunn & Crutcher and McDermott Will & Emery have been tapped for U.S. fast food chain Jack in the Box Inc’s roughly $575 million bet on Mexican restaurant operator Del Taco Restaurants Inc.
As a result of the deal announced on Monday, Jack in the Box said it will beef up its holdings to more than 2,800 restaurants in 25 states.
San Diego-based Jack in the Box has teamed up with a Gibson Dunn corporate team including partners Jonathan Layne and Andrew Friedman for guidance on the acquisition, the firm said in an email.
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Friedman previously advised Jack in the Box’s on its sale of Qdoba Restaurant Corp to Apollo Global Management LLC in 2018, according to his firm profile.
McDermott is advising Del Taco, which is based in California.
The firm initially worked a special purpose acquisition company that merged with Del Taco in 2015, according to a press release.
Jack in the Box’s financial advisor on its latest deal is BofA Securities Inc, and Del Taco’s is Piper Sandler & Co.
The Del Taco acquisition is expected to wrap up in 2022’s first quarter.
Read more:
Jack in the Box to acquire Del Taco for over $450 mln
Jack in the Box to sell Qdoba Restaurant unit for $305 million cash
Levy Acquisition to buy fast-food chain Del Taco for $500 million
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