Jack In The Box Closes Restaurant Deals

Nation’s Restaurant News:

Numerous deals for Jack in the Box restaurants, including the final sale of 66 locations formerly owned by bankrupt franchisee Kobra Associates, as well as the sale of 21 corporate locations in Northern California, have closed in recent weeks.

Jack in the Box, which operates or franchises about 2,200 restaurants, confirmed the deals Thursday but did not offer any details.

The group of 21 restaurants in Sacramento, Modesto and Los Banos, Calif., were sold as part of the San Diego-based company’s ongoing refranchising plan and were acquired by franchise operator MarLu Investment Group. MarLu received $23.5 million in financing from GE Capital Franchise Finance’s bank affiliate, GE Capital Financial Inc., to fund the acquisition, refinance existing restaurants and create a line of credit for future development needs, according to the lender.

MarLu is the third largest domestic franchisee of the Church’s Chicken brand, operating 46 of the fried-chicken restaurants. The franchise operator also owns and operates two Arby’s locations and two Little Caesars Pizza restaurants.

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