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The Honolulu Advertiser

Posted at 12:06 p.m.., Tuesday, September 12, 2006

Jack in the Box outlets sold for $19M

Advertiser Staff

Jack in the Box said today it has completed the sale of 25 company-owned restaurants in Hawai'i to local fast-food executive Chris Scanlan for $19 million.

Scanlan, president and chief executive of Scanlan Management, also signed a development agreement to add an undisclosed number of Jack in the Box restaurants in the Islands, the first of which is scheduled to open Oct. 1.

The San Diego-based restaurant chain said the restaurants will continue to operate under the Jack in the Box name under a franchise agreement.

Great Northwest emerges as potential buyer of HIG

Great Northwest Insurance Co., a St. Paul, Minnesota-based insurer, plans to make announcements about its pending purchase of Hawaiian Insurance & Guaranty within the next week, a spokesman for the company said.

Great Northwest, which does business in about 20 states, emerged as the buyer for the Hawaiian Insurance, the state's No. 4 hurricane insurer, last week after a last-ditch effort by the state to find a new owner for the company. Great Northwest has a B+ financial-strength rating from A.M. Best. The state hopes to wrap up the sale by Sept. 20.