Apollo Global expected to buy Qdoba for $300M

Leon Black’s Apollo International Administration is predicted to announce as quickly as Friday that it has signed a deal to purchase Jack within the Field’s troubled Qdoba Mexican Eats chain, The Submit has discovered.

Apollo is predicted to pay roughly $300 million for the 720-restaurant chain whose similar-retailer gross sales fell 2.1 % within the final quarter — and 1.5 % in the newest fiscal yr.

At the very least one rival Qdoba suitor dropped out after the poor outcomes have been reported, a supply stated.

Jack shares fell 1.6 % Thursday, to $102.sixty seven.

The San Diego firm introduced in Might it was exploring strategic options for Qdoba.

The Submit reported solely Nov. 2 that Apollo was eyeing the No. 2 Mexican quick-meals restaurant chain.

Apollo declined to remark.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *