Jack in the Box Inc. Announces Definitive Agreement to Sell Qdoba Restaurant Corporation
The transaction is expected to close by
Lenny Comma, chairman and chief executive officer of
“At the time the Company acquired Qdoba in 2003, it had 85 locations in
16 states, with
Apollo Senior Partner Lance Milken said, “We are extremely excited to be acquiring Qdoba and look forward to working with the management team, employees and franchisees to continue building the Qdoba brand. We are firmly committed to Qdoba’s continued growth as a leading fast-casual restaurant operator.”
The Company intends to provide guidance for fiscal 2018 in connection
with its presentation at the
Apollo is a leading global alternative investment manager with offices
Statements about the expected timing, completion and effects of the proposed transaction and related transactions and all other statements in this news release, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “expect,” “believe,” “anticipate,” “intend,” “estimate,” “may,” “will” or similar words are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks, uncertainties and other factors that could cause the actual results to differ materially from such forward-looking statements, including, but not limited to (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement or conditions to the closing of the transactions contemplated by the definitive agreement may not be satisfied or waived, (2) the failure to satisfy the closing conditions contained in the definitive agreement, (3) risks related to disruption of management’s attention from the Company’s ongoing business operations due to the transaction, (4) the effect of the announcement of the definitive agreement on the ability of the Company or Qdoba to retain and hire key personnel and maintain relationships with its customers, suppliers, and on its operating results and business generally, (5) the transaction may involve unexpected costs, liabilities or delays, (6) the Company’s and Qdoba business may suffer as a result of the uncertainty surrounding the transaction, (7) the outcome of any legal proceeding relating to the transaction, (8) the Company may be adversely affected by other economic, business and/or competitive factors, and (9) other risks to consummation of the transaction, including the risk that the transaction will not be consummated within the expected time period or at all.
Actual results may differ materially from those indicated by such
forward-looking statements. In addition, the forward-looking statements
represent the Company’s views as of the date on which such statements
were made. The Company anticipates that subsequent events and
developments may cause its views to change. However, although the
Company may elect to update these forward-looking statements at some
point in the future, it specifically disclaims any obligation to do so,
whether as a result of new information, future events or otherwise.
These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the date
hereof. Additional factors that may affect the business or financial
results of the Company are described in the risk factors included in the
Company’s filings with the
Jack in the Box Inc.