Following the implementation of restrictions to slow down the spread of the coronavirus in New York City on July 28, 2020, New York City continues to reopen the fourth phase, so people wear protective masks outside Dunkin’ Donuts in the Upper West Side.
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Inspire Brands, which owns Arby’s, Buffalo Wild Wings and Sonic Drive-In, said that privatizing the owners of the Dunkin’ Donuts and Baskin-Robbins chain stores in an all-cash transaction would value them at $106.50 per share. This is a premium of nearly 20% over Duncan’s final closing price on October 23, which was before the deal negotiations were first reported in The New York Times.
Paul Brown, the co-founder and CEO of Inspire Brands, said in an interview: “Dunkin’ and Baskin-Robbins have more than 70 years of rich traditions. Category leaders, together they are the two most iconic restaurant brands in the world.” Statement. “By joining Inspire, these brands will add complementary guest experiences and occasions to our current product portfolio.
In addition, they will enhance Inspire through its expanded international platform and strong consumer packaged goods licensing infrastructure and increase 15 million loyal members. We are happy to welcome Dunkin’ and Baskin-Robbins employees, franchisees and suppliers to the Inspire series. “
The coronavirus pandemic and its interference with coffee drinkers’ daily activities damaged Dunkin’s sales, and US same-store sales fell 18.7% in the second quarter. However, its through lanes are helping its sales recovery, the provision of new beverages, and the collaboration with TikTok star Charli D’Amelio. Rival Starbucks reported that in the most recent quarter, same-store sales in the United States fell by 40%.
Dave Hoffmann, CEO of Dunkin Brand, said in a statement: “Today’s announcement proves that our world-class franchisees, licensees, employees and suppliers are working together to bring Dunkin ‘And Baskin-Robbins transformed into modern related brands.”. “The courage and determination of this team has allowed us to deliver extraordinary performance and make our brand one of the most outstanding in the fast service industry. I am particularly proud of our actions since March of this year. During the global pandemic. , Our status is high. We have each other’s support and are now stronger than ever.”
Dunkin’ and Baskin-Robbins announced an unexpected increase in third-quarter comparable sales in the United States on Thursday.
–CNBC contributed to this report.