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Lake
Forest, CA – May 2019 / Newsmaker Alert / 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.
Investor
Relations Contact:
Raphael
Gross
203-682-8253
Media
Contact:
Joshua
Levitt
Canvas
Blue
for
Del Taco
949-981-0757 |