Lifestyle Food Jack in the Box Is Buying Fellow Fast Food Giant Del Taco for $575 Million Together, the fast food chains will have more than 2,800 restaurants in 25 states By Charmaine Patterson Charmaine Patterson Charmaine Patterson is an Associate Editor at PEOPLE. She first began working at PEOPLE in 2021 as a Digital News Writer. Her work has previously appeared on xoNecole, The Lakelander, and Aspire TV. People Editorial Guidelines Published on December 6, 2021 06:25PM EST Photo: Don & Melinda Crawford/Education Images/Universal Images Group via Getty Jack in the Box is buying Del Taco in a $575 million deal, the fast food giant announced Monday. Launched in 1964, Del Taco is the second-largest Mexican quick-service restaurant in the nation. It serves over 3 million people weekly at its nearly 600 locations in 16 states. Jack in the Box specializes in a variety of foods from chicken tenders and french fries to tacos and egg rolls. Together, Del Taco and Jack in the Box will have over 2,800 restaurants across 25 states. "We are thrilled to welcome Del Taco, a beloved brand and proven regional winner, to the Jack in the Box family," said Darin Harris, CEO of Jack in the Box, said in a statement Monday. "This is a natural combination of two like-minded, challenger brands with outstanding growth opportunities." getty McDonald's Launches a Line of Mariah Carey Merch to Celebrate Holiday Collab — and It's All Free Harris added, "Del Taco has a loyal, passionate guest base and a strong operating model, and we believe that we can leverage our infrastructure, experience refranchising, and development strategy to support Del Taco's growth plans and expand Del Taco's footprint. We can't wait to welcome the Del Taco team members and franchisees to the Jack family!" John D. Cappasola, Jr., President and CEO of Del Taco, said Del Taco is "excited" to partner with a company "that shares our vision for the future and has the QSR expertise to further accelerate Del Taco's growth." RELATED: Here Are 8 Meal Options From Your Fav Chain Restaurants That Are 500 Calories or Less! The agreement will include existing debt, according to the company's press release. The sale comes roughly three years after Jack in the Box parted ways with Qdoba. Jack in the Box purchased the Mexican fast-casual chain in 2003 and finalized the decision to sell it in 2018 after Qdoba suffered a decrease in sales, according to ABC 7. Never miss a story — sign up for PEOPLE's free weekly newsletter to get the biggest news of the week delivered to your inbox every Friday. Harris said Monday that Del Taco will be a better fit than Qdoba since it already attracts similar customers to Jack in the Box and has locations in the same markets. Del Taco's drive-thru volume is also comparable as 99 percent of its locations offer drive-thru service compared to Jack in the Box's 90 percent. Harris said it's a "key differentiation" considering Qdoba doesn't have many drive-thrus, ABC 7 reports. Under its deal with Del Taco, Jack in the Box expects to see a 4 percent annual unit growth by 2025, according to the release.