In recent years, investors have feasted on the shares of newly public restaurant chains with the hopes that one day they’ll become just as big as Chipotle or Panera. But one of those promising debuts has largely slipped under the radar.
On Tuesday, Mexican fast-food restaurant chain Del Taco officially became the sole subsidiary of Levy Acquisition Corp. [fortune-stock symbol=”TACO”], after announcing a deal earlier this year to be acquired for $500 million, including debt. That transaction helped Del Taco pay down millions in high interest debt and put the restaurant company in a better position to use the cash it generates to fund expansion and other day-to-day operations.
But shares in the company, whose name changed to Del Taco Restaurants Inc., haven’t seen much trading action and were only up a slim 3% on Wednesday. That goes against the streak of double-digit or greater gains that other restaurant initial…
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