Jack in the Box announced Thursday that it will sell its 550-restaurant Del Taco chain to Yadav Enterprises in a $115 million cash deal.

The San Diego-based fast-food company said the sale will strengthen its balance sheet and allow it to focus on its primary brand.

“This divestiture is an important step in returning to simplicity, and we look forward to focusing on our core Jack in the Box brand,” said CEO Lance Tucker in a statement.

“After a robust process, we are confident we have entered into a transaction with the right steward for Del Taco in its next chapter of evolution. We wish Del Taco success as they enter this next chapter,” Tucker said.

Fremont-based Yadav operates more than 310 franchise restaurants including Jack in the Box, Denny’s and TGI Friday’s, and owns the Taco C

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