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    Dunkin' Brands Readies $400M IPO

    All shares in the offering will be sold by Dunkin' Brands, not existing shareholders.

    CANTON, Mass. -- Dunkin' Brands Group is taking steps for an initial public offering. The parent company of Dunkin' Donuts and Baskin-Robbins, filed a registration statement with the U.S. Securities and Exchange Commission for a proposed IPO of $400 million of its common stock.

    All shares in the IPO will be sold by Dunkin' Brands, according to the locally headquartered company, and no shares are being offered by existing shareholders. Dunkin' Brands intends to use the net proceeds from the offering to fund a portion of the redemption price for the outstanding Dunkin' Brands, Inc. 9⅝ % senior notes due 2018.

    The company, which has private equity firms Bain Capital, Carlyle Group CYL.UL, and Thomas H. Lee Partners THL.UL as its stakeholders, said it plans to list on the Nasdaq Global Select Market under the symbol "DNKN", according to Reuters.

    The offering is being made through an underwriting group led by J.P. Morgan Securities LLC, Barclays Capital Inc. and Morgan Stanley & Co. Inc. BofA Merrill Lynch and Goldman, Sachs & Co. are also acting as joint book-running managers of the IPO.

    The news comes on the heels of the company's strong first-quarter results, which were announced on April 28. "We delivered a strong first quarter with solid gains in system-wide sales, domestic comparable store sales growth and revenues, which built on the momentum we established in 2010. These results were driven by our focus on operational excellence and successful new product introductions, supported by brand-differentiating marketing," said Nigel Travis, chief executive officer, Dunkin' Brands Inc. and president, Dunkin' Donuts. "During the quarter, we also announced several key strategic developments, including the announcement that our franchisees will begin selling Dunkin' Donuts coffee in single-serve K-Cup portion packs for use with Keurig single cup brewers this summer; the opening of Dunkin' Donuts' 3,000th international location; and the signing of a development agreement with Jubilant FoodWorks to develop up to 500 Dunkin' Donuts restaurants in India over the next 15 years."

     

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