ATLANTA and CANTON, Mass. — Inspire Brands, Inc. has entered a definitive merger agreement with Dunkin’ Brands Group, Inc. — parent company of Dunkin’ and Baskin-Robbins.
Under the agreement, Inspire will acquire Dunkin’ Brands for $106.50 per share in cash in a transaction valued at approximately $11.3 billion.
Inspire is a multi-brand restaurant company with a current portfolio that includes more than 11,000 Arby’s, Buffalo Wild Wings, SONIC Drive-In and Jimmy John’s restaurants worldwide.
Dunkin’ Brands currently boasts more than 12,500 Dunkin’ and almost 8,000 Baskin-Robbins restaurants around the world. Following the completion of the transaction, Dunkin’ and Baskin-Robbins will be operated as distinct brands within Inspire.
The terms of the merger agreement have been unanimously approved by the boards of directors of Inspire and Dunkin’ Brands. The transaction is expected to close by the end of 2020.
“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,” says 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. 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.”
“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. 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’m 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,” says Dave Hoffmann, Chief Executive Officer of Dunkin’ Brands. “We’re excited to bring meaningful value to shareholders who have been with us on this journey and believe that Inspire Brands, a preeminent operator of franchised restaurant concepts, 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.”