Jack in the Box Inc. today disclosed the details of a refranchising transaction that was completed in May and included in the company’s thirdquarter operating results, which were announced on August 8. On May 21, MZK Enterprise, LLC acquired 18 Jack in the Box® restaurants in the Houston area for $7.3 million.
The transaction reflects the company’s strategic initiative to expand franchising and franchise ownership in the Jack in the Box system. Including these 18 restaurants and 37 locations sold in April, Jack in the Box Inc. expects to sell approximately 100 restaurants in fiscal 2012. The company is currently seeking experienced, multi-unit restaurant operators to refranchise certain company markets in the southeast and midwest. In Tulsa, Kansas City, Indianapolis and Cincinnati, new franchisees can acquire up to 10 restaurants that recently opened or are under development, then further develop the market with royalty and franchise fee incentives.