Dunkin' Brands confirms talks of possible sale
The parent company of Dunkin' and Baskin-Robbins confirmed it's in talks to sell itself to a private equity-backed company.
Dunkin' Brands announced in a press release Sunday "that it has held preliminary discussions to be acquired by Inspire Brands."
The company explained that there's "no certainty that any agreement will be reached" and won't comment further "until a transaction is agreed or discussions are terminated."
Inspire Brands, which is backed by Roark Capital Group, holds an array of fast-casual restaurant chains in its portfolio including Arby's, Jimmy Johns, Sonic and Buffalo Wild Wings. A spokesman for Inspire Brands told ABC News he had no comment at this time.
The New York Times, which first reported the sale discussions, said the deal is valued at nearly $9 billion.
Dunkin' Brands stock was trading at $104.75 on Friday. The potential sale would represent a 20% premium in the company's current share price.
Even with setbacks at the start of the COVID-19 outbreak including closing hundreds of locations, Dunkin' Brands has been able to bolster its sales with drive-through and online ordering.
The company, which has 21,000 franchises, reported $1.4 billion in revenue last year and over $240 million in profit.
