Apollo Said to Be Near Deal to Acquire Qdoba from Jack in the Box
Jack in the Box is mulling the sale of Qdoba.

Jack in the Box (JACK) could be lightening its load.

The fast-food chain is nearing a deal to sell its Qdoba Mexican Restaurant concept to Apollo Global Management for $300 million, according to Reuters.

Activist hedge fund Jana Partners recently took a 1.3 million share stake in Jack in the Box. Jana most recently was involved with Whole Foods (WFM) , pushing that company to sell itself. Once Amazon.com  (AMZN) purchased the company, Jana cashed out of its 8.2% stake for $300 million. 

Apollo's deal could close as soon as next week, according to Reuters sources. Jack in the Box acquired Qdoba for $45 million in 2003. 

Qdoba has more than 700 locations in North America. 

Apollo currently owns children's restaurant concept Chuck E. Cheese, which it took private for $1.3 billion in 2014. 

TheStreet's request for a comment from Jack in the Box was not returned. 

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