Following last week's news that Dunkin' Brands Group Inc had held preliminary discussions about being acquired by Inspire Brands, it has now been announced that Inspire Brands Inc will buy Dunkin' Brands Group Inc for $8.76 billion.
Inspire Brands, which owns Arby's, Buffalo Wild Wings and Sonic Drive-In, said that its all-cash deal to take the owner of Dunkin' Donuts and Baskin-Robbins chains private would value it at $106.50 a share.
Including debt, the deal is valued at approximately $11.3 billion, the companies said.
Dunkin' and Baskin-Robbins will operate as distinct brands within Inspire, the companies said.
"We are excited to bring meaningful value to shareholders who...believe that Inspire Brands...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," Dunkin' Brands CEO Dave Hoffmann said.
Dunkin' Brands operates 12,900 Dunkin' restaurants and more than 8,000 Baskin-Robbins stores around the world. Inspire Brands, which was formed in 2018 by private equity firm Roark Capital as a holding company, has a portfolio of more than 11,000 restaurants.
"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," Inspire Brands CEO Paul Brown said.
The Wall Street Journal first reported the confirmation of deal.
Barclays was the financial adviser to Inspire, while BofA Securities advised Dunkin' Brands.