Dunkin ‘Brands Leaps on Wall Street
Dunkin’ Brands, which heads donut and coffee chains Dunkin’ and Baskin-Robbins ice cream, soared nearly 15% around 1:30 p.m. on Wall Street on Monday after confirming it was in negotiations to sell itself to the Inspire Brands catering.
According to the New York Times, Inspire Brands could pay up to $ 8.8 billion to take the group off the stock market, which would represent a 20% premium over its closing price on Friday.
“There is no certainty on the conclusion of a deal,” however the company said in a statement Sunday evening after the publication of the daily information.
“Neither company will comment further unless we can come to a compromise,” added Dunkin’ Brands.
The parent company of the Dunkin’ stores, founded in 1950 in Massachusetts (northeast), and the Baskin-Robbins establishments, created in 1945 in California, has a total of more than 21,000 points of sale, all owned by franchisees, in over 60 countries.
A former subsidiary of the Allied Domecq group, Dunkin ‘Brands was bought by the French wine and spirits group Pernod Ricard in 2005 and sold a year later for $ 2.4 billion to three investment funds: Bain Capital, Carlyle and Thomas H. Lee.
These companies put the group on the stock market in 2011.
Inspire Brands, funded by investment firm Roark Capital, already operates several restaurant chains, including Arby’s, Buffalo Wild Wings and Jimmy Johns.
Dunkin 'Brands Leaps on Wall Street - /10