Foodmaker Settles Antitrust Charges
Foodmaker Inc., which owns the Jack In The Box fast-food chain, will pay $1.45 million to settle charges it failed to notify the government about its purchase of a restaurant franchiser in 1992.
The Justice Department’s antitrust division filed a civil suit Tuesday against the San Diego-based company in U.S. District Court along with the proposed settlement agreement that called for the $1.45 million payment.
Under federal antitrust law, companies contemplating takeovers or mergers larger than specified levels must notify the Justice Department’s antitrust division or the Federal Trade Commission in advance.
In the Oct. 23, 1992 deal, Foodmaker acquired all the voting stock of Consul Inc. for $12.7 million. Consul, based in Bloomington, Minn., operated 26 Chi-Chi’s restaurant franchises in the United States and Canada.
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