A promotional image of people holding Jack in the Box products. / Jack in the Box A promotional image of people holding Jack in the Box products. / Jack in the Box
Chains

Jack in the Box is Exploring Selling Itself

Jack in the Box Inc. shares jumped as much as 7.3 percent after Reuters reported it’s exploring options that could include a sale of the company.

The fast-food chain began talks with potential buyers, including private equity firms, this month and there’s no certainty a deal will be reached, Reuters reported, citing unidentified people familiar with the situation.

Jack in the Box didn’t immediately reply to a request for comment. The San Diego-based company is in the midst of a dispute with franchisees, who have called for the ouster of Chief Executive Officer Lenny Comma because of weak sales. The company’s revenue has slumped in recent quarters as its competitors tout discounts to get diners in the door.

The stock rose to as high as $89.72 on Thursday, the highest intraday level in nearly three months.

©2018 Bloomberg L.P.

This article was written by Leslie Patton and Jonathan Roeder from Bloomberg and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

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