Jack in the Box completes sale of 25 Hawaii stores

SAN DIEGO — Jack in the Box Inc. announced that Scanlan Management LLC has acquired its 25 company-operated Jack in the Box restaurants in Hawaii for approximately $19 million in cash. The deal was completed Sept. 11.

 

In addition, Scanlan chief executive Chris Scanlan signed a development agreement to add new Jack in the Box restaurants in Hawaii, the first of which is expected to open by Oct. 1.

 

"This transaction represents the first sale of an entire market since we announced our strategic initiative to expand franchising in 2002," said Linda A. Lang, chairman and chief executive officer. "We believe there is tremendous potential to continue leveraging franchising to expand the Jack in the Box brand in existing and new markets."