Dunkin’ shares hit all-time high after holding buyout talks
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Winnipeg Free Press access to your Brandon Sun subscription for only
$1 for the first 4 weeks*
*$1 will be added to your next bill. After your 4 weeks access is complete your rate will increase by $0.00 a X percent off the regular rate.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 26/10/2020 (1787 days ago), so information in it may no longer be current.
The Dunkin’ doughnuts and coffee chain has confirmed it’s held talks to be taken private by a private equity firm, sending its shares rocketing to an all-time high Monday.
Dunkin’ Brands Group said it’s in preliminary discussions with Inspire Brands, which also owns Arby’s and Jimmy John’s Sandwiches. In a prepared statement Sunday, Dunkin’ said it is not yet certain a deal would be reached and would not comment further.
Inspire Brands said it had no comment Monday.
Dunkin’ shares jumped $14.31, or 16.1% to close Monday at $103.10.
Dunkin’, based in Canton, Massachusetts, also owns the Baskin-Robbins ice cream chain. There are 13,000 Dunkin’ stores and 8,000 Baskin-Robbins outlets worldwide.
Both brands have significant history. Dunkin’ was founded in 1950 in Quincy, Massachusetts. Baskin-Robbins — known for its promise of 31 flavours — was founded in 1945 in Glendale, California.
But the global pandemic has hurt sales. Dunkin’ Brands revenue fell 20% in the second quarter, and the company said franchisees closed 200 restaurants permanently. Dunkin’ Brands reported full-year sales of $1.4 billion in 2019, up 4% from the previous year.
Atlanta’s Inspire Brands, which was founded in 2018, is quickly placed itself among the largest restaurant groups in the U.S. It also owns the Buffalo Wild Wings and Sonic burger chains, and has annual sales of more than $14 billion.
Dunkin’ would give Inspire a spot in the breakfast category, which was the fastest-growing segment of the restaurant industry before the pandemic hit.
Inspire is part of the private equity company Roark Capital Group, also based in Atlanta. Roark also backs Focus Brands — the owner of Auntie Anne’s Pretzels and Cinnabon — and CKE Restaurants, which owns the Carl’s Jr. and Hardee’s burger chains.