Jack in the Box signs big development deal
Jack in the Box is expanding in the Southeast.
The quick-service hamburger chain has signed an agreement with Jeff Yablun and Frank Conley of Cedar Tree Restaurant Group for 37 new restaurants and 46 existing stores in four Southeast markets. The markets include Nashville, Tenn.; Baton Rouge, La.; Greenville, S.C.; and Charlotte, N.C.
The deal comes on the heels of the brand’s fourth quarter earnings call, where it was announced that Jack in the Box is projecting positive net unit growth for the first time in four years. Out of the 267 new franchise commitments that have been signed with Jack in the Box since mid-2021, the Cedar Tree 37-unit development agreement represents its single largest deal.
“Jeff and Frank are exactly the type of new franchisees that we want to join and grow Jack in the Box with us,” said company CEO Darin Harris. “Their business acumen, experience with multi-unit franchising and overall knowledge of the restaurant industry will be key to the successful operations of these existing locations as well as new unit growth.”
“We want to partner with brands that have a proven track record of sound operations and a solid existing base while still having ample room for development,” said Conley. “With the legacy and presence that its already built, Jack in the Box clearly fit the profile. We look forward to carrying on the Jack legacy as franchisees during this lively period of growth for the brand.”
Jack in the Box has been upgrading its digital capabilities. In October, it launched a brand-new ordering website and native mobile app.
Earlier this month, the company announced that Tim Mullany, executive VP and CFO, will be leaving for personal reasons, effective February 2, 2023. Mullany joined Jack in the Box in January 2021 and led the company’s acquisition of Del Taco.
Founded and headquartered in San Diego, Calif., Jack in the Box Inc. operates and franchises its namesake chain, which has more than 2,180 namesake restaurants across 21 states, and Del Taco, the second largest Mexican-American QSR chain by units in the U.S., with approximately 600 restaurants across 15 states.