SAN DIEGO--(BUSINESS WIRE)--Dec. 17, 2018--
Jack in the Box Inc. (NASDAQ:JACK) today announced that its Board of
Directors and management team, with the support of legal and financial
advisors, is exploring a range of strategic and financing alternatives
to maximize shareholder value. Potential alternatives could include,
among other things, a sale of the Company or executing on the Company’s
previously announced plans to increase its leverage.
The Company’s Board has not set a timetable for the conclusion of this
process nor has it made any decision related to any strategic or
financing alternative at this time. The Company has had discussions with
potential buyers; however, it noted that there can be no assurance that
the exploration of strategic and financing alternatives will result in a
transaction. That said, in the absence of a strategic transaction the
Company remains committed to its previously communicated plan to have a
new capital structure in place by the end of the first half of fiscal
2019. That capital structure could include, among other things, a
securitization or bond issuance.
The Company does not intend to comment further regarding the review
unless or until it determines that further disclosure is appropriate or
required by law.
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 and Guam. For more information on Jack in the
Box, including franchising opportunities, visit www.jackinthebox.com.
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements may
be identified by words such as “anticipate,” “believe,” “estimate,”
“expect,” “forecast,” “goals,” “guidance,” “intend,” “plan,” “project,”
“may,” “will,” “would” and similar expressions. These statements are
based on management’s current expectations, estimates, forecasts and
projections about the company’s business and the industry in which the
company operates. These estimates and assumptions involve known and
unknown risks, uncertainties, and other factors that are in some cases
beyond management’s control. Factors that may cause actual results to
differ materially from any forward-looking statements include, but are
not limited to: the success of new products, marketing initiatives and
restaurant remodels and drive-thru enhancements; the impact of
competition, unemployment, trends in consumer spending patterns and
commodity costs; the company's ability to reduce G&A and operate
efficiently; the company’s ability to achieve and manage its planned
growth, which is affected by the availability of a sufficient number of
suitable new restaurant sites, the performance of new restaurants, risks
relating to expansion into new markets and successful franchisee
development; litigation risks; the company's ability to enhance
shareholder value; supply chain disruption; food-safety incidents or
negative publicity impacting the reputation of the company's brand; the
company’s ability to obtain additional financing and increase its debt
leverage; and stock market volatility. These and other factors are
discussed in the company’s annual report on Form 10-K and its periodic
reports on Form 10-Q filed with the Securities and Exchange Commission,
which are available online at http://investors.jackinthebox.com
or in hard copy upon request. The company undertakes no obligation to
update or revise any forward-looking statement, whether as the result of
new information or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181217005125/en/
Source: Jack in the Box Inc.
Jack in the Box Inc.
Investor Contact:
Carol
DiRaimo, (858) 571-2407
Media Contact:
Brian Luscomb, (858) 571-2291