CANTON, Mass. (March 1, 2006) - A consortium of global private equity firms consisting of Bain Capital Partners LLC, The Carlyle Group and Thomas H. Lee Partners LP today completed the acquisition of Dunkin' Brands Inc. from Pernod Ricard SA for $2.425 billion in cash. Dunkin' Brands announced on December 12, 2005 that it had reached a definitive agreement to be acquired by the consortium.
Jon L. Luther, Chief Executive Officer of Dunkin' Brands, has been appointed Chairman of the newly formed Board of Directors, and Will Kussell, Chief Operating Officer of the company, will also serve on the Board. Bain Capital, The Carlyle Group and Thomas H. Lee Partners will each have three board seats.
"This is an exciting time for Dunkin' Brands, and we are pleased to have such experienced partners to help us execute our strategy of aggressive expansion for our three proven brands," said Luther. "With strong consumer loyalty, excellent franchisee relationships and an outstanding management team already in place, Dunkin' Brands is well-positioned for tremendous growth. We are driven by a passion to raise the bar on the quality and variety of food and beverages available in the quick service industry and change expectations about what is possible in a quick meal on the go."
"As an independent company with new owners committed to providing the resources needed to support its growth plan, we believe Dunkin' Brands is ideally situated to execute its strategy across the Dunkin' Donuts, Togo's and Baskin-Robbins brands and geographies," the consortium members said in a statement.
About Dunkin' Brands
Dunkin' Brands, Inc., headquartered in Canton, Massachusetts, franchises more than 12,000 Dunkin' Donuts, Baskin-Robbins and Togo's shops worldwide. With over 143 years of combined franchising experience, Dunkin' Brands mission is to thrill customers, enrich stakeholders and build powerful brands. Dunkin' Brands is also a pioneer in developing and practicing a complementary day part strategy, which combines two or three of its brands under one roof. For more information, visit www.dunkinbrands.com.
About Dunkin' Donuts
Founded in 1950, today Dunkin' Donuts is the number one retailer of coffee-by-the-cup in America, selling 2.7 million cups a day, nearly one billion cups a year. Dunkin' Donuts is also the largest coffee and baked goods chain in the world and sells more donuts, coffee, and bagels than any other quick service restaurant in America. Dunkin' Donuts has more than 6,500 shops in 29 countries worldwide. Based in Canton, Massachusetts, Dunkin' Donuts is a subsidiary of Dunkin' Brands, Inc. For more information, visit www.DunkinDonuts.com.
Today, Baskin-Robbins is the world's largest chain of ice cream specialty shops that creates and markets its innovative, high-quality premium ice cream, specialty frozen desserts and beverages in more than 5,600 retail shops around the globe. Baskin-Robbins was founded by two ice cream enthusiasts whose passion led to the creation of more than 1,000 ice cream flavors and a wide variety of delicious treats. Headquartered in Canton, Mass., Baskin-Robbins is part of Dunkin' Brands, Inc. For more information, visit www.BaskinRobbins.com.
Togo's is a strong California brand, and has earned this distinction by providing high-quality, great tasting sandwiches for over 35 years. Togo's Subs was established in 1968 near the San Jose State University campus in California. In 1971, a former student by the name of Mike Cobler purchased the store, upgraded the menu, and changed the name to Togo's Eatery. A student himself, Cobler projected the type of food he liked into his business: freshly prepared, wholesome sandwiches with generous portions. There are now over 400 stores in the U.S., where nearly 164,000 Togo's sandwiches are served every day. Togo's loves its customers and is committed to providing them with sandwich creations, vegetarian selections, soups, and salads that offer "big taste in every bite." For more information, visit www.togos.com.
About Bain Capital
Bain Capital (www.baincapital.com) 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, Munich, Hong Kong, Tokyo and Shanghai.
About The Carlyle Group
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 $40 billion in revenue and employ more than 370,000 people around the world. Visit www.carlyle.com for additional information.
About Thomas H. Lee Partners, L.P.
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. The firm has acquired over 100 companies with aggregate purchase price of $75 billion. 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.