July 1, 2015
Lake Forest-based Del Taco has some major expansion plans and a new owner. Larry Levy, a Chicago-based investor, purchased the chain for an estimated $500 million and plans to add 1,500 units.
Levy Acquisition Corp. merged with Del Taco Holdings earlier this week. The chain currently has about 550 restaurants in 16 states. Levy said that he would like to make the brand more nationwide and says it fills a niche between Taco Bell and Chipotle.
Growth is expected to ramp up next year and in 2017, with expansion plans targeted in the Midwest and East Coast. Del Taco had revenues of $94 million during its first quarter, a nine-percent increase from the same year-ago period.