Allstate buys Taco Bell for $6 billion
Allstate, which owns Taco Bell, said Thursday that it has bought the Chicago-based fast-casual chain for $60 billion.
The deal includes Allstate’s Taco Express brand, which is one of the largest in the U.S. Taco Bell is owned by the nation’s biggest restaurant conglomerate.
The news comes just days after Allstate announced a $20 billion takeover of the Uptown Food Co-op chain.
Allstate said the deal is expected to close by the end of the year.
The acquisition will also include Allstate Restaurants, a restaurant-brand business that Allstate owns.
Allstate also said the acquisition includes Allman Brothers Brands, a major restaurant conglomerate that owns the Chili’s, Olive Garden, and Olive Garden Super Market chains.