M&A
confidence high
sentiment neutral
materiality 0.60
Jack in the Box completes Del Taco acquisition; pro forma revenue $1.66B for FY2021
JACK IN THE BOX INC
- Total purchase consideration of $593.3M; Del Taco shareholders received $12.51 per share.
- Issued $1.1B in senior secured notes (3.445% and 4.136%) plus $150M variable funding note to fund deal.
- Pro forma net earnings $29.4M for 16 weeks ended Jan 23, 2022; diluted EPS $1.38.
- Pro forma net earnings $146.4M for FY2021; diluted EPS $6.51 vs Jack standalone $7.37.
- Del Taco's existing $115.2M debt repaid; combined company shareholders' deficit of $805M.