The parent company of Dunkin' is considering selling itself and going private.
That is according to The New York Times, which first reported Sunday that Dunkin' Brands Group is in talks to be bought up by Inspire Brands, a restaurant chain giant whose portfolio includes Arby’s, Buffalo Wild Wings, Sonic and several others.
Under the deal, Dunkin' Brands, which also owns the Baskin Robbins ice cream chain, would sell itself at a price of $106.50 a share, two people with knowledge of the confidential discussions told the Times. The share cost implies a valuation of roughly $8.8 billion for the company.
The deal could be announced as early as Monday, according to the newspaper.
In a statement released over the weekend, Dunkin' Brands confirmed “it has held preliminary discussions to be acquired by Inspire Brands.”
“There is no certainty that any agreement will be reached. The company will not comment further unless and until a transaction is agreed or discussions are terminated,” the statement said.
With 21,000-plus locations in more than 60 countries worldwide, Dunkin' Brands took a big hit at the beginning of the coronavirus pandemic, seeing revenue decrease by around 20% in its second quarter and closing hundreds of its stores.
However, it appears the company’s business is improving. Store sales at Dunkin' locations in the United States increased throughout the quarter, largely due to the chain’s “ability to pivot quickly and introduce new menu items" to customers, who are now visiting later in the day, according to Dunkin' Brands.
With the implementation of the new Dunkin’ app, the chain’s digital platform has improved as well and driven significant customer engagement and “rapid recovery" during the quarter, the company noted.
In June, as businesses were beginning to reopen amid the COVID-19 public health crisis, Dunkin' also said it was planning to hire 25,000 employees nationwide.
“We are extremely proud of our great franchisees who kept the vast majority of our restaurants open during the quarter and really stepped up with a sense of urgency and grit to keep their team members employed, our guests served, and their communities running,” Dave Hoffmann, CEO of Dunkin' Brands, said in a statement.
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