Purchasing Inspire Brands Inc. Dunkin’s Brands Group 76 8.76 billion Inc., both companies said late Friday, bringing chains like Orbis and Dunkin ‘Donuts under one umbrella in one of the largest restaurant deals.
Promote brands, Owner of Orbis, Buffalo Wild Wings and Sonic Drive All cash deal The private takeover of Dunkin ‘Donuts and Baskin-Robbins chains is worth $ 106.50 per share. This represents a premium of almost 20% over Dunkin’s final share price on October 23, before the New York Times first announced the deal.
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The companies said the deal was worth about $ 11.3 billion, including credit.
Sales of Dunkin and Baskin-Robbins have improved in recent weeks from their locking lows, boosted by strong demand for its curbside pickup, drive-through and delivery options.
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On Thursday Dunkin and Baskin-Robbins recorded surprising increases in comparable sales to the United States in the third quarter.
The companies have said that Dunkin and Baskin-Robbins will act as unique brands within Inspire.
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“We are pleased to bring meaningful value to shareholders … to promote brands … to continue to grow for our owners, while remaining true to the uniqueness and distinctiveness of the Dunkin and Baskin-Robbins brands,” said Dave Hoffman, CEO of Dunkin Brands.
Dunkin Brands operates 12,900 Tunkin restaurants and more than 8,000 Baskin-Robbins stores worldwide. Inspire Brands, formed in 2018 as a holding company by private equity firm Rorg Capitol, has a portfolio of more than 11,000 restaurants.
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“They will strengthen Inspire through a measured international platform and strong consumer-packaged product licensing infrastructure, as well as add more than 15 million loyal members,” said Paul Brown, CEO of Inspire Brands.
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The Wall Street Journal first confirmed the deal.
Barclays was Inspire’s financial adviser, and Bofa Securities advised Dunkin’s brands.
(Reporting by Subham Kalia and Nivedita Balu in Bangalore; Compiled by Daniel Wallis and Leslie Adler)