June 27--Mexican fast food chain Del Taco, headquartered in Lake Forest, is eyeing a sale that could bring the company more than $500 million, according to a Reuters report.
News of a possible sale comes on the heels of the brand's 50th anniversary celebration Saturday, when its restaurants nationwide hosted parties with cake and promotions.
The company's owners include private equity firms Goldman Sachs Mezzanine Partners, Charlesbank Capital Partners and Leonard Green & Partners.
Piper Jaffray, an investment bank and asset management firm, and Goldman Sachs Group Inc. are working with Del Taco on the possible deal, Reuters says.
Del Taco and its founder, Ed Hackbarth, who still owns and operates three Del Tacos in Barstow, declined comment.
The chain -- known for its mix of Mexican and American fare that includes tacos, burgers and fries -- operates 546 locations in 17 states.
Del Taco recorded $622 million in sales last year from all its stores, making it the 19th largest privately held company in Orange County, according to the most current rankings from the Orange County Business Journal.
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