CANTON, Mass., Jan. 8, 2015 /PRNewswire/ -- Dunkin' Donuts,
one of the world's leading coffee and baked goods chains, today
announced that it has signed the largest development agreement in
the company's history with the goal of expanding Dunkin' Donuts in
China. The company has entered
into a long-term master franchise agreement in which Golden Cup
Pte. Ltd., a joint venture between Jollibee Worldwide Pte
Ltd. and Jasmine Asset Holding Ltd., a wholly owned
subsidiary of RRJ Capital Master Fund II, L.P. ("RRJ"), will serve
as the franchisee and plans to open and operate more than 1,400
Dunkin' Donuts restaurants across China over the next 20 years. The joint
venture has exclusive rights to expand Dunkin' Donuts in new
territories, including Beijing,
Chongqing, Fujian, Guangdong, Guangxi, Guizhou, Hainan, Hebei, Heilongjiang, Hong
Kong, Hunan, Jiangxi, Jilin, Macau,
Shanxi, Sichuan, Tianjin and Yunnan. The opening of the first restaurant is
expected in Q4 2015.
"We are delighted to enter into this relationship with Jollibee
and RRJ, a group with a proven track record of success in the quick
service restaurant industry in China and a deep knowledge of the consumer,"
said Nigel Travis, Chairman and CEO,
Dunkin' Brands. "Through this franchise development agreement, the
largest in our history, we believe we can significantly expand and
accelerate Dunkin' Donuts presence in China."
Dunkin' Donuts currently has more than 11,000 restaurants in 36
countries around the world, including 16 in China and more than 2,200 across the
Asia Pacific region. Dunkin'
Donuts restaurants in China
feature the brand's wide range of hot and iced coffees,
espresso-based beverages, teas, Coolatta® frozen drinks, bagels,
muffins, croissants, donuts, and sandwiches, all served fast in
friendly, convenient locations and at a great value. The brand also
offers regional items to cater to local tastes, including a lineup
of Mochi Ring Donuts.
"We are excited about the prospect of bringing Dunkin' Donuts to
China. Dunkin' Donuts is a leading
global brand in baked goods and coffee, and the China market offers a tremendous opportunity
as its consumer base continues to grow in number and spending
power," said Tony Tan Caktiong, Chairman of Jollibee Foods
Corporation. "We look forward to working with Dunkin' Donuts and
our joint venture partner RRJ to growing the presence of Dunkin'
Donuts in China in the coming
years."
Jollibee Worldwide Pte Ltd. is a wholly owned subsidiary of
Jollibee Foods Corporation, which operates the largest food service
network in the Philippines with
more than 2,200 stores located in the country. Jasmine Asset
Holding Ltd is a wholly owned subsidiary of RRJ Capital Master Fund
II, L.P., which was established by RRJ Capital. Founded in 2011,
RRJ Capital is an Asian-based investment firm with offices in
Hong Kong and Singapore. The company has significant
investments in the food and consumer sectors in China.
"We are pleased to partner with Jollibee to expand Dunkin'
Donuts' presence in key regions across China in the years ahead," said Charles Ong, Co-CEO, RRJ. "There is a strong
demand in China for Dunkin' Donuts
high-quality foods and beverages, served in a welcoming restaurant
environment with fast and friendly service, all at a great value to
consumers."
The master franchise agreement with Golden Cup Pte. Ltd., the
joint venture between Jollibee Worldwide Pte
Ltd. and Jasmine Asset Holding Ltd. is the latest
step in Dunkin' Donuts' plan to accelerate its international
growth. In 2013, Dunkin' Donuts signed a master franchise agreement
with Fast Gourmet Group to develop the brand in Eastern China to open more than 100
restaurants in the Shanghai,
Jiangsu and Zhejiang regions. Additionally in 2014,
Dunkin' Donuts signed agreements to develop in key markets
including Brazil, Sweden and Austria.
For more information about Dunkin' Donuts, please visit
www.DunkinDonuts.com.
Forward-Looking Statements
This news release contains
projections and other forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These projections and statements
reflect the Company's current views with respect to future events
and financial performance. No assurances can be given, however,
that these events will occur or that these projections will be
achieved, and actual results could differ materially from those
projected as a result of certain risk factors. A discussion of
these risk factors is included in the Company's periodic reports
filed with the Securities and Exchange Commission.
About Dunkin' Donuts
Founded in 1950, Dunkin' Donuts
is America's favorite all-day, everyday stop for coffee and baked
goods. Dunkin' Donuts is a market leader in the hot
regular/decaf/flavored coffee, iced coffee, donut, bagel and muffin
categories. Dunkin' Donuts has earned the No. 1 ranking for
customer loyalty in the coffee category by Brand Keys for eight years running. The company
has more than 11,000 restaurants in 36 countries worldwide. Based
in Canton, Mass., Dunkin' Donuts
is part of the Dunkin' Brands Group, Inc. (Nasdaq: DNKN) family of
companies. For more information, visit
www.DunkinDonuts.com.
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SOURCE Dunkin' Donuts