Del Taco Refranchising

The Cypress Group served as exclusive advisor to Del Taco in the refranchising of 18 restaurants located in California and Nevada. Del Taco has been executing a portfolio optimization strategy to help stimulate new franchise restaurant growth and to drive operational and financial benefits. These transactions mark the first market closures of the Company's broader refranchising program.

Related to these refranchising transactions, the acquirers have also committed to develop up to 31 additional Del Taco restaurants over the next decade in both new and existing markets for the brand. Del Taco is the second largest Mexican-American quick service restaurant chain by units in the United States.

Cypress provided strategic guidance, valuation services, identification of potential buyers, and deal negotiation for Del Taco.