M&A Deal Summary

Apollo Global Management Acquires Qdoba Restaurant

On December 19, 2017, asset manager Apollo Global Management acquired restaurant Qdoba Restaurant from Jack for 305M USD

Acquisition Highlights
  • This is Apollo Global Management’s 2nd transaction in the Restaurants sector.
  • This is Apollo Global Management’s 47th largest (disclosed) transaction.
  • This is Apollo Global Management’s 56th transaction in the United States.
  • This is Apollo Global Management’s 5th transaction in California.
Investment Fate
  • Qdoba Restaurant merged with another company in 2022.

M&A Deal Summary
Date 2017-12-19
Target Qdoba Restaurant
Sector Restaurants
Buyer(s) Apollo Global Management
Sellers(s) Jack
Deal Type Divestiture
Deal Value 305M USD

Target

Qdoba Restaurant

San Diego, California, United States
Qdoba Restaurant operates and franchises fast-casual Mexican restaurants under the name Qdoba Mexican Grill. Qdoba Mexican Grill combines fresh ingredients with an innovative combination of sauces and marinades to create non-traditional, fast-casual Mexican fare. Qdoba Restaurant was founded in 1995 and is based in San Diego, California.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 75 of 140
Sector (Restaurants) 2 of 2
Type (Divestiture) 13 of 26
State (California) 5 of 16
Country (United States) 56 of 101
Year (2017) 8 of 9
Size (of disclosed) 47 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-15 Phoenix Services

Radnor, Pennsylvania, United States

Phoenix Services is a global provider of value-added industrial services to steel mills serving world class customers such as ArcelorMittal, Nucor Steel, and US Steel, among others. The Company has a global workforce of approximately 2,100 employees and operates in 34 locations on four continents. Phoenix Services was founded in 2006 and is based in Radnor, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-21 Venerable

West Chester, Pennsylvania, United States

Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with the patient, long-term capital. Venerable was founded in 2017 and is based in West Chester, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Jack

San Diego, California, United States
Category Company
Founded 1951
Sector Restaurants
Employees1,079
Revenue 1.7B USD (2023)
DESCRIPTION
Entrance to Jack in the Box's corporate headquarters in San Diego, California.
Entrance to Jack in the Box's corporate headquarters in San Diego, California.

Jack is a restaurant company that operates and franchises Jack in the Box restaurants. Jack was formed in 1951 and is based in San Diego, California.

DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-22 Qdoba Restaurant

San Diego, California, United States

Qdoba Restaurant operates and franchises fast-casual Mexican restaurants under the name Qdoba Mexican Grill. Qdoba Mexican Grill combines fresh ingredients with an innovative combination of sauces and marinades to create non-traditional, fast-casual Mexican fare. Qdoba Restaurant was founded in 1995 and is based in San Diego, California.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-06 Del Taco

Lake Forest, California, United States

Del Taco offers a unique variety of both Mexican and American favorites such as burritos and fries, prepared fresh in every restaurant's working kitchen with the value and convenience of a drive-thru. Del Taco's menu items taste better because they are made with quality ingredients like freshly grilled chicken and carne asada steak, fresh house-made guacamole, freshly grated cheddar cheese, slow-cooked beans made from scratch, and creamy Queso Blanco. It serves more than three million guests each week at its approximately 600 restaurants across 16 states. Del Taco’s commitment to providing guests with the best quality and value for their money originates from cooking, chopping, shredding, and grilling menu items from scratch. Del Taco was founded in 1964 and is based in Lake Forest, California.

Buy $575M
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