Del Taco Restaurants, Inc. Retains The Cypress Group to Lead Refranchising of Four Non-Core Western Markets
02 Mai 2019 - 10:15PM
Business Wire
Del Taco Restaurants, Inc. (“Del Taco” or the “Company”)
(NASDAQ: TACO), the second largest Mexican-American quick service
restaurant chain by units in the United States, recently commenced
the marketing of certain company-operated restaurants across four
non-core Western markets. The refranchising of these restaurants is
expected to be completed by the summer of 2020 and is planned to
help shift company ownership to approximately 45% of the Del Taco
system while stimulating growth in new restaurants and existing
restaurant AUVs.
Del Taco first announced its Restaurant Portfolio Optimization
plan in January 2019 and subsequently retained The Cypress Group, a
leading restaurant and franchise investment banking firm,
(“Cypress”) to manage this refranchising initiative. Cypress has
more than 25 years of multi-unit and franchise M&A experience
in the restaurant industry, including significant engagements
related to corporate refranchising processes.
The marketing process is targeting new or existing franchise
groups with proven restaurant operations capabilities and a strong,
consistent track record of new unit development who commit to
continued brand growth in existing and/or other markets. Interest
parties should contact The Cypress Group at
DelTacoRefran@cypressgroup.biz.
John D. Cappasola, Jr., President and Chief Executive Officer of
Del Taco, commented, “We are excited to be launching these
opportunities to the franchise M&A marketplace through our
partnership with The Cypress Group. The Del Taco brand has proven
portability across a broad geographic footprint and we believe
refranchising our non-core Western markets provides potential
franchise partners with an attractive entry point to our system
from which they can drive further system-wide growth through new
development.”
About Del Taco Restaurants, Inc.
Del Taco (NASDAQ: TACO) offers a unique variety of both Mexican
and American favorites such as burritos and fries, prepared fresh
in every restaurant's working kitchen with the value and
convenience of a drive-thru. Del Taco's menu items taste better
because they are made with quality ingredients like fresh grilled
chicken and carne asada steak, hand-sliced avocado, hand-grated
cheddar cheese, slow-cooked beans made from scratch, and creamy
Queso Blanco. Del Taco’s new advertising campaign, “Celebrating the
Hardest Working Hands in Fast Food,” further communicates the
company’s commitment to providing guests with fresh, quality food
prepared by hand every day. Founded in 1964, today Del Taco serves
more than three million guests each week at its 580 restaurants
across 14 states. For more information, visit www.deltaco.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190502005733/en/
Investor Relations:Raphael Gross(203)
682-8253investor@deltaco.com
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