Dunkin' Brands

Dunkin' Brands Group, Inc. was an American restaurant holding company which ran three chains of fast-food restaurants: Dunkin' Donuts, Mister Donut, and Baskin-Robbins. It was headquartered in Canton, Massachusetts.[2]

Dunkin' Brands Group, Inc.
TypeFormerly: Public
NASDAQ: DNKN (2011–2020)
IndustryFast food restaurants
FateAcquired by Inspire Brands
Founded1994 (1994) as Allied Domecq Quick Service Restaurants
2004 (2004) as Dunkin' Brands
DefunctDecember 15, 2020 (2020-12-15)
HeadquartersCanton, Massachusetts, United States
Area served
Worldwide
Key people
Nigel Travis
(Executive Chairman)
David Hoffmann
(CEO)
Revenue US$860.5 million (2017)[1]
US$447 million (2017)[1]
US$195.576 million (2016)[1]
Total assets US$3.227 billion (2016)[1]
Total equity US$-163.258 million (2016)[1]
Number of employees
1,163 (2016)[1]
SubsidiariesBaskin-Robbins
Dunkin'
Mister Donut
WebsiteDunkin' Brands
Dunkin' Brands headquarters
Welcome sign at Dunkin' Brands headquarters

History

Allied-Lyons

In 1973, British food company J. Lyons and Co. purchased Baskin-Robbins from United Brands. J. Lyons and Co. then merged with Allied Breweries, becoming Allied-Lyons in 1978. In 1990, Allied-Lyons acquired Dunkin' Donuts and Mister Donut.

Allied Quick Service Restaurants

In 1994, Allied-Lyons merged with Pedro Domecq S.A., becoming Allied Domecq. The restaurant operations were merged under a subsidiary named Allied Domecq Quick Service Restaurants. In 1997, Togo's was acquired by Allied Domecq.[3]

Dunkin' Brands

In 2004, Allied Domecq Quick Service Restaurants was renamed Dunkin' Brands, Inc..

On December 12, 2005, Pernod Ricard, which had just taken control of Allied Domecq, announced the sale of Dunkin' Brands to a consortium of private equity firms consisting of Bain Capital, The Carlyle Group and Thomas H. Lee Partners for $2.425 billion in cash.[4] Dunkin' Brands, Inc. was renamed Dunkin' Brands Group, Inc. after the transaction.

On November 30, 2007, Dunkin' Brands sold Togo's to Mainsail Partners, a San Francisco-based private equity firm, in partnership with Tony Gioia, a former president of Baskin-Robbins.[5][6]

In July 2011, Dunkin' Brands completed its initial public offering and became listed on the NASDAQ Global Select Market (NASDAQ-GS large cap) under the symbol "DNKN".

In August 2012, Dunkin' Brands became completely independent of the private equity firms.[7]

In October 2017, Dunkin' Brands announced the company would be investing $100 million in United States locations of Dunkin’ Donuts’. The company also said they are considering a name change to the shortened Dunkin'. The name change is being tested in a California location and a new store in Quincy, Massachusetts.[8]

On July 30, 2020 the organization announced it would permanently close 800 of its donut and coffee shops by the end of the year due to a sales slump caused by the coronavirus pandemic.[9]

Dunkin' Brands reported in October 2020 that negotiations were being held with the private equity-backed company Inspire Brands for Inspire to acquire the company. The potential deal includes Dunkin' Brands private stocks would be sold at $106.50 a share, a 20 percent premium over the closing prices reported on the 23rd of October, implying that the company is being evaluated at around $8.8 billion. A statement released by Dunkin' claimed that "there is no certainty that any agreement will be reached" as well that no further comments will be released until an agreed upon transaction is found.[10] Shares of the Dunkin' Brand have reportedly risen 33% in 2020 because of the possible Inspire Brands' deal.[11]

On October 30, 2020, Dunkin' Brands announced that it will be acquired by Inspire Brands in a transaction valued at $11.3 billion including the assumption of Dunkin' Brands debt. The deal closed on December 15.[12][13]

Subsidiaries

References
  1. "filing". Dunkin' Brands Group, Inc.
  2. "Contact Us." Baskin-Robbins. Retrieved on January 14, 2010.
  3. "Allied Domecq to Acquire Togo's Eateries; Compliments Baskin-Robbins and Dunkin' Donuts Brands". Allied Domecq, PLC (Press release). Retrieved 3 April 2018 – via PR Newswire.
  4. "Dunkin' Brands to Work with New Private Equity Owners to Continue Aggressive Growth Plans - Thomas H. Lee Partners". www.thl.com. Retrieved 3 April 2018.
  5. Services, From Times Wire (4 December 2007). "Dunkin' Brands sells Togo's chain". Retrieved 3 April 2018 – via LA Times.
  6. Inc., Dunkin' Brands. "Dunkin' Brands to Divest Togo's". www.prnewswire.com. Retrieved 3 April 2018.
  7. "As Private Equity Cashes Out, What's Next for DNKN?". Retrieved 16 January 2013.
  8. Goodison, Donna (2017-10-27). "Dunkin' Donuts sweetens Brand". Boston Herald. Retrieved 2017-10-27.
  9. Morona, Joey (2020-07-30). "Dunkin' to close up to 800 stores in the U.S. by the end of the year". cleveland. Retrieved 2020-07-31.
  10. Hirsch, Lauren (2020-10-25). "Dunkin' Brands Is in Talks to Sell Itself and Go Private". The New York Times. ISSN 0362-4331. Retrieved 2020-10-30.
  11. Haddon, Heather (2020-10-29). "Dunkin' Closes Stores as Deal Talks Continue". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-10-30.
  12. "Inspire Brands to acquire Dunkin' Brands in $11.3 billion transaction". Dunkin' Brands. October 30, 2020. Retrieved November 2, 2020.
  13. "Inspire Brands Completes Acquisition of Dunkin' Brands". www.businesswire.com. 2020-12-15. Retrieved 2020-12-15.
    • Historical business data for Dunkin' Brands:
    • SEC filings
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.