SAN DIEGO--(BUSINESS WIRE)--Aug. 14, 2013--
Jack in the Box Inc. (NASDAQ: JACK) today disclosed the details of a
refranchising transaction that was completed in May and included in the
company’s third-quarter operating results, which were announced on
August 7. On May 6, 2013, TLIG Restaurants, LLC acquired 18 Jack in the
Box® restaurants in the Beaumont, Texas, market. Additionally, to date
in the fourth quarter of the company’s fiscal 2013, which ends Sept. 29,
2013, Jack in the Box Inc. has completed the sale of 27 additional Jack
in the Box restaurants, with transactions to refranchise approximately
29 other restaurants expected to close by fiscal year end.
These transactions reflect the company’s strategic initiative to expand
franchising and franchise ownership in the Jack in the Box system.
Reflecting the sale of the Beaumont market, the Jack in the Box system
is nearly 77 percent franchised, with the expected completion of the
fourth quarter transactions increasing franchise ownership to more than
79 percent. The company is nearing its goal of franchise ownership in
the 80 to 85 percent range, which it expects to achieve by the end of
fiscal 2014.
The company is currently seeking experienced, multi-unit restaurant
operators to refranchise certain company markets in the southeast and
midwest. In Tulsa, Kansas City, Indianapolis and Cincinnati, new
franchisees can acquire up to 10 restaurants that recently opened or are
under development, then further develop the market with royalty and
franchise fee incentives. Other markets approved for franchise
development include Louisville, Cleveland, Wichita, Omaha, Little Rock,
Fayetteville and Champaign. For more information on franchising
opportunities, visit www.jackinthebox.com/franchise.
About Jack in the Box Inc.
Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant
company that operates and franchises Jack in the Box® restaurants,
one of the nation’s largest hamburger chains, with more than 2,200
restaurants in 21 states. Additionally, through a wholly owned
subsidiary, the company operates and franchises Qdoba Mexican Grill®,
a leader in fast-casual dining, with approximately 600 restaurants in 45
states, the District of Columbia and Canada. For more information on
Jack in the Box and Qdoba, including franchising opportunities, visit www.jackinthebox.com
or www.qdoba.com.
Source: Jack in the Box Inc.
Jack in the Box Inc.
Brian Luscomb, (858) 571-2291