Del Taco Restaurants, Inc. Completes Refranchising of Reno, Nevada Market
02 Décembre 2019 - 10:05PM
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, today announced the
refranchising of all eight company-operated restaurants in the
Reno, NV market to existing franchisee Mark Miller of 3 Brothers
Restaurants. Related to this refranchising agreement, Mr. Miller
has also committed to develop ten additional Del Taco restaurants
over the next seven years, including six in the Yakima and Spokane,
WA markets and four across his current geographic operating
area.
John D. Cappasola, Jr., President and Chief Executive Officer of
Del Taco, commented, “We are pleased to have completed this
refranchising transaction with a high quality franchisee like Mark
and to have secured a development commitment from him for an
additional 10 restaurants. 3 Brothers is an experienced and proven
operator and developer, having already opened four Del Taco
restaurants thus far in 2019. Mark has a strong commitment to the
Del Taco brand and we look forward to working together towards our
mutual success for many years to come.”
As a reminder, Del Taco is optimizing its restaurant portfolio
to help stimulate growth in new restaurants, primarily through
franchise development, and expects to refranchise two additional
markets by the end of the first quarter of 2020.
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. The brand's campaign, Celebrating the Hardest Working
Hands in Fast Food, further communicates Del Taco's commitment to
restaurant-level team members that provide guests with the best
quality and value for their money through cooking, chopping,
shredding and grilling menu items from scratch. Founded in 1964,
today Del Taco serves more than three million guests each week at
its more than 580 restaurants across 14 states. For more
information, visit www.deltaco.com.
Forward-Looking Statements
In addition to historical information, this release may contain
a number of “forward-looking statements” as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include, without limitation, information concerning Del
Taco’s possible or assumed future results of operations, business
strategies, competitive position, industry environment, potential
growth opportunities and the effects of regulation. These
statements are based on Del Taco’s management’s current
expectations and beliefs, as well as a number of assumptions
concerning future events. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “target,”
“may,” “will,” “should,” “future,” “propose,” “preliminary,”
“guidance,” “on track” and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. Such
forward-looking statements are subject to known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside Del Taco’s management’s control that could cause
actual results to differ materially from the results discussed in
the forward-looking statements. These risks include, without
limitation, consumer demand, our inability to successfully open
company-operated or franchised restaurants or establish new
markets, competition in our markets, our inability to grow and
manage growth profitably, adverse changes in food and supply costs,
our inability to access additional capital, changes in applicable
laws or regulations (including minimum wage regulations), food
safety and foodborne illness concerns, our inability to manage
existing and to obtain additional franchisees, our inability to
successfully execute our portfolio optimization strategy, our
inability to attract and retain qualified personnel, our inability
to profitably expand into new markets, changes in, or the
discontinuation of, the Company’s repurchase program, and the
possibility that we may be adversely affected by other economic,
business, and/or competitive factors. Additional risks and
uncertainties are identified and discussed in Del Taco’s reports
filed with the SEC, including under Item 1A. Risk Factors in our
Annual Report on Form 10-K for the year ended January 1, 2019, and
available at the SEC’s website at www.sec.gov and the Company’s
website at www.deltaco.com.
Forward-looking statements included in this release speak only
as of the date of this release. Del Taco undertakes no obligation
to update its forward-looking statements to reflect events or
circumstances after the date of this release or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191202005830/en/
Investor Relations Contact: Raphael Gross (203) 682-8253
investor@deltaco.com
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