People wear protective masks outside of Dunkin ‘Donuts on the Upper West Side as the city resumes Phase 4 reopening following restrictions imposed to slow the spread of coronavirus on July 28, 2020 in New York City.
Noam Galai | beautiful images
Dunkin ‘Brands has agreed to be acquired by Inspire Brands for $ 11.3 billion including debt, putting chains like Arby’s and Dunkin’ Donuts into the same umbrella in one of the biggest restaurant deals.
Inspire Brands, which owns Arby’s, Buffalo Wild Wings and Sonic Drive-In, says its all-cash deal to make the owners of the Dunkin ‘Donuts and Baskin-Robbins chains privately valid. 106.50 USD / share. That represents almost 20% higher than Dunkin’s last closing share price on October 23, before the New York Times first reported on deal negotiations.
“Dunkin ‘and Baskin-Robbins are portfolio leaders with more than 70 years of rich heritage and together they are two of the most iconic restaurant brands in the world’,” co-founder and director Inspire Brands’s chief executive, Paul Brown, said in a statement. “By joining Inspire, these brands will add guest experiences and opportunities to our existing portfolios.
Furthermore, they will reinforce Inspire through an expanded international platform and robust consumer packaged goods licensing infrastructure, as well as an additional 15 million loyal members. We are delighted to welcome Dunkin ‘and Baskin-Robbins employees, franchisees and suppliers to the Inspire family. “
The coronavirus pandemic and the disruption of coffee drinkers’ drinking habits hurt Dunkin’s sales, causing sales at the same US store down 18.7% in the second quarter. . But the back and forth lanes are helping to rebound sales, along with new drink offers and a partnership with star TikTok Charli D’Amelio. Rival Starbucks reports sales at similar stores in the US fell 40% in its most recent quarter.
“Today’s announcement is a proof that our franchise team, licensees, world-class employees and suppliers have been working together to turn Dunkin ‘and Baskin-Robbins into Modern, consistent branding, “Dunkin ‘Brands CEO, Dave Hoffmann said in a statement. “The courage and determination of this team has enabled us to deliver outstanding performance and make our brands one of the best in the fast service industry. Proud of our actions since March of this year. During the period of the global pandemic, we have risen.
Dunkin ‘and Baskin-Robbins on Thursday posted a surprise increase in comparable US sales for the third quarter.
–CNBC contributed to this report.