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Shares of Dunkin’ rocketed higher on Monday, October 26, after the United States donut giant confirmed it was in talks on a deal to be acquired by Inspire Brands and go private.
The transaction being discussed would value Dunkin’, which also owns ice cream chain Baskin-Robbins, at $8.8 billion, according to the New York Times.
A Dunkin’ Brands statement confirmed “preliminary discussions” with Inspire on a transaction, but did not offer details.
“There is no certainty that any agreement will be reached,” Dunkin’ said. “The company will not comment further unless and until a transaction is agreed or discussions are terminated.”
Founded in the northeastern state of Massachusetts, Dunkin’ and Baskin-Robbins have more than 21,000 points of distribution in 60 countries worldwide. The company went public in 2011.
Inspire Brands, which is financed by American private equity firm Roark Capital Group, already manages several food chains, including Arby’s, Buffalo Wild Wings, and Jimmy Johns.
Shares of Dunkin’ were up 15.3% at $102.36 in early trading. – Rappler.com