Dunkin’ Donuts bought by Arby’s owner Inspire in $11.3B deal

Dunkin’ Brands, owner of the coffee and donuts empire, is being bought by Inspire for a staggering $11.3 billion, both companies announced late Friday night.

Inspire, owner of Arby’s and Buffalo Wild Wings, appears to be eating up the competition after also taking over SONIC Drive-In and Jimmy John’s restaurants.

Dunkin’ Brands, which is headquartered in Canton and was founded in Quincy in 1950, also owns the Baskin-Robbins ice cream chain, along with coffee shops on just about ever major corner in Boston.

“Dunkin’ and Baskin-Robbins are category leaders with more than 70 years of rich heritage, and together they are two of the most iconic restaurant brands in the world,” said Paul Brown, co-founder and chief executive officer of Inspire Brands. “By joining Inspire, these brands will add complementary guest experiences and occasions to our current portfolio.”

Coffee, donuts, roast beef sandwiches, shakes, ice cream and more, basically.

Inspire will acquire Dunkin’ Brands for $106.50 per share in cash in a transaction valued at about $11.3 billion including the assumption of Dunkin’ Brands’ debt, the two sides said in a joint statement.

“Today’s announcement is a testament to our world-class group of franchisees, licensees, employees, and suppliers who have worked together to transform Dunkin’ and Baskin-Robbins into modern, relevant brands,” said Dave Hoffmann, chief executive officer of Dunkin’ Brands.

He added: “This team’s grit and determination has enabled us to deliver outsized performance and made our brands among the most elite in the quick service industry. I am particularly proud of our actions since March of this year. During the global pandemic, we have stood tall. We’ve had each other’s backs and are now stronger than ever.”

The transaction is expected to close by the end of 2020.

No word yet if Arby’s will set up shop in Dunkin’ Donuts shops so customers can order a coffee, donut and roast beef special to go.

from Boston Herald https://ift.tt/2JmG2js