Dunkin' Brands files i.p.o. for up to $400 million

by Eric Schroeder
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CANTON, MASS. — Dunkin’ Brands Group, Inc., the parent company of Dunkin’ Donuts and Baskin-Robbins, has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of $400 million of its common stock. Dunkin’ Brands said it intends to use the net proceeds from the offering to fund a portion of the redemption price for the outstanding Dunkin’ Brands, Inc. 9 5/8% senior notes due 2018.

JPMorgan Chase & Co., Barclays Capital and Morgan Stanley will serve as underwriters, according to a May 4 filing with the S.E.C.

Dunkin’ Brands said it intends to apply to have its shares listed on the Nasdaq Global Select Market under the symbol “DNKN.”

The company was acquired by three private equity firms — Bain Capital L.L.C., Carlyle Group and Thomas H. Lee Partners LP — in 2006 for $2.43 billion, and the three firms currently own more than 5% of the company’s stock.

Dunkin’ Brands, a quick-service restaurant business based in Canton, Mass., has more than 16,000 Dunkin’ Donuts and Baskin-Robbins locations in 57 countries worldwide.

The Dunkin’ Donuts chain, a leading retailer of coffee-by-the-cup, has 9,805 points of distribution, of which 6,799 were in the United States and 3,006 were international. Baskin-Robbins creates and markets its ice cream, frozen desserts and beverages in 6,482 points of distribution, of which 3,959 are international and 2,523 are in the United States.

In the year ended Dec. 25, 2010, Dunkin’ Brands posted net income of $26,861,000 on revenues of $577,135,000. This compared with income and revenues of $35,008,000 and $538,073,000, respectively, in fiscal 2009. Dunkin’ Brands sustained a loss of $269,898,000 in fiscal 2008.

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