LAKE FOREST, Calif.--(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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Investor Relations:
Raphael Gross
(203) 682-8253
investor@deltaco.com
Source: Del Taco Restaurants, Inc.