Inspire Brands will acquire Dunkin’ Brands, the parent of Dunkin’ and Baskin-Robbins, for $11.3 billion and assumption of debt, the companies announced Friday (Oct. 30) in a press release.
The deal values Dunkin’ stock at $106.50 per share. Dunkin’ shares closed Friday at $99.71 each. As recently as Oct. 23, Dunkin’ shares were trading at $88.79. The release stated that the boards of both companies have approved the deal.
The transaction, if consummated, will create a restaurant industry giant. Aspire already owns Arby’s, Buffalo Wild Wings, Sonic Drive-in and Jimmy John’s — a total of more than 11,000 locations, according to the company. There are over 12,500 Dunkin’ locations and nearly 8,000 Baskin’ Robbins restaurants, according to Friday’s announcement.
“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,” Paul Brown, co-founder and CEO of Inspire Brands said in a prepared statement. “By joining Inspire, these brands will add complementary guest experiences and occasions to our current portfolio.
“Further, they will strengthen Inspire through their scaled international platform and robust consumer packaged goods licensing infrastructure, as well as add more than 15 million loyalty members. We are excited to welcome Dunkin’ and Baskin-Robbins’ employees, franchisees, and suppliers to the Inspire family.”
Dunkin’ Brands CEO Dave Hoffmann described Inspire Brands in a prepared statement as “a preeminent operator of franchised restaurant concepts” and said the new operator “will continue to drive growth for our franchisees while remaining true to all that is unique and special about the Dunkin’ and Baskin-Robbins brands.”
The likely sale follows a significant increase in Dunkin’ sales volume since the pandemic struck but also a decision by management to close some locations. Also, Dunkin’ has been engaged in a significant shift to expand digital marketing since the summer.
On Oct. 24, Credit Suisse analysts said Dunkin’ “has demonstrated strong recovery trends amid a challenging environment.”