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2005-12-12 News Headlines
Investment Group to
Acquire Dunkin Brands
Investors purchase Dunkin Brands, a leading quick service restaurant
franchisor under the Dunkin Donuts, Baskin Robbins and Togo brands.
Bain Capital Partners, The Carlyle Group and Thomas H. Lee Partners today
announced that they have reached a definitive agreement to acquire Dunkin'
Brands, Inc. from Pernod
Ricard
S.A. for $2.425 billion in cash. The transaction is subject to standard
regulatory approvals and is expected to close in the first quarter of
2006.
Dunkin' Brands is a leading quick service restaurant franchisor that develops
and franchises restaurants under the Dunkin' Donuts, Baskin-Robbins and
Togo's brands. The existing Dunkin' Brands management team, led by Chief
Executive Officer Jon L. Luther, will continue in their current positions,
working with their franchisee partners to build the company's premier
brands. The sponsors will invest equal amounts of equity in the company
and the management team will become equity investors.
Mark Nunnelly and Andrew Balson, Managing Directors at Bain Capital, said,
"We are delighted to partner with Jon Luther and his terrific team, as
well as the entire Dunkin' Brands franchise community, to help achieve
the organization's ambitious growth plans. We can appreciate from our
deep experience in the QSR industry that these important brands have been
ably managed by the franchisee base and the management team, and we look
forward to working closely with them."
Sandra J. Horbach, Carlyle Managing Director and Head of the Consumer
& Retail team, said, "Jon Luther and his management team have extensive
experience and a track record of success in the quick service restaurant
segment. We look forward to building upon the strong foundation these
industry veterans have established at Dunkin' Brands."
Anthony J. DiNovi, Co-President of Thomas H. Lee Partners, and Todd
Abbrecht, Managing Director of Thomas H. Lee Partners, said, "This is
a company with well over 10 years of growth ahead of it, both in the U.S.
and in international markets, and this sponsor team has made a long-term
commitment to realize that potential."
The sponsors noted that Dunkin' Brands has a powerful recipe for growth:
, An established growth platform that supports further expansion in the
U.S. and internationally. . Three premier quick service restaurant brands,
including a leading player in the high-growth coffee segment.
. Longstanding relationships with the company's strong, committed franchisee
base.
. An experienced management team with a track record of success.
Dunkin'
Brands, Inc.,
headquartered in Canton, Massachusetts, is a leading franchisor of quick
service restaurants with more than 12,000 Dunkin' Donuts, Baskin-Robbins
and Togo's locations worldwide.
Founded in 1950, Dunkin'
Donuts
is the number one retailer of coffee-by-the-cup in America, selling nearly
one billion cups a year. Dunkin' Donuts is also the largest coffee and
baked goods chain in the world and has more than 6,500 shops in 29 countries
worldwide.
Baskin-Robbins,
founded in 1946, , is the world's largest chain of ice cream specialty
stores. Baskin-Robbins creates and markets its premium ice cream, frozen
desserts and beverages in more than 5,600 shops in 34 countries around
the globe.
Founded in 1971, Togo's is a strong regional brand focused on the California
market. Togo's offers high-quality sandwiches, soups and salads at more
than 350 stores in the U.S.
Bain
Capital
is a global private investment firm that manages several pools of capital
including private equity, venture capital, public equity and leveraged
debt assets with more than $27 billion in assets under management. Since
its inception in 1984, Bain Capital has made private equity investments
and add-on acquisitions in over 230 companies around the world, including
quick service restaurant companies Domino's Pizza and Burger King, and
retailers Toys "R" Us, Dollarama and Staples. Headquartered in Boston,
Bain Capital has offices in New York, London and Munich.
The
Carlyle Group
is a global private equity firm with $35 billion under management. Carlyle
invests in buyouts, venture capital, real estate and leveraged finance
in Asia, Europe and North America, focusing on aerospace & defense, automotive
& transportation, consumer & retail, energy & power, healthcare, industrial,
technology & business services and telecommunications & media. Since 1987,
the firm has invested $14.9 billion of equity in 439 transactions for
a total purchase price of $51.9 billion. The Carlyle Group employs more
than 630 people in 15 countries. In the aggregate, Carlyle portfolio companies
have more than $30 billion in revenue and employ more than 131,000 people
around the world.
Thomas
H. Lee Partners,
L.P. is a Boston-based private equity firm focused on identifying and
acquiring substantial ownership positions in growth companies. Founded
in 1974, Thomas H. Lee Partners currently manages approximately $12 billion
of committed capital, including its most recent fund, the $6.1 billion
Thomas H. Lee Equity Fund V. Notable transactions sponsored by the firm
include: Fisher Scientific International, General Nutrition Centers, Houghton
Mifflin, Michael Foods, Nortek, ProSiebenSat.1, Rayovac, Simmons Company,
Snapple Beverage, TransWestern Publishing, Warner Chilcott, and Warner
Music Group.
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