Dunkin’ Brands (NASDAQ:DNKN) has held preliminary discussions to be acquired by Inspire Brands, a private equity-backed restaurant company, Dunkin’ said in a statement on Sunday.

“There is no certainty that any agreement will be reached,” said Karen Raskopf, Chief Communications Officer of Dunkin’ Brands.

The deal being discussed would take Dunkin’ Brands private at a price of $106.50 a share, said the New York Times which first reported the development.

Inspire Brands, the owner of Arby’s and Jimmy John’s, declined to comment.

The announcement could be made public as soon as Monday, the New York Times said.

Inspire’s portfolio includes more than 11,000 Arby’s, Buffalo Wild Wings, SONIC Drive-In, Rusty Taco, and Jimmy John’s locations worldwide, according to the company’s website.

Inspire Brands was formed in 2018 by private-equity firm Roark Capital as a holding company after Arby’s completed the acquisition of Buffalo Wild Wings.

With more than 21,000 points of distribution in more than 60 countries worldwide, Dunkin’ Brands Group, Inc. is one of the world’s leading franchisors of quick service restaurants serving hot and cold coffee and baked goods, as well as hard-serve ice cream.

At the end of the second quarter of fiscal year 2020, Dunkin’ Brands’ 100% franchised business model included over 13,000 Dunkin’ restaurants and approximately 8,000 Baskin-Robbins restaurants. Dunkin’ Brands Group, Inc. is headquartered in Canton, Mass.

The company is set to announce third-quarter earnings Thursday morning, October 29.

DNKN shares reacted to the news by spiking $14.04, or 15.8%, to $102.83 first thing Monday morning.

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