Home finance Dunkin' Brands to go private in $8.76 billion deal by Arby's owner

Dunkin' Brands to go private in $8.76 billion deal by Arby's owner

0
Dunkin' Brands to go private in $8.76 billion deal by Arby's owner


© Reuters.

(Reuters) – Inspire Brands Inc will buy Dunkin’ Brands Group Inc (O:) for $8.76 billion, the two companies said on Friday, bringing chains like Arby’s and Dunkin’ Donuts under the same umbrella in one of the largest restaurant deals.

Inspire Brands, which owns Arby’s, Buffalo Wild Wings and Sonic Drive-In, said its all-cash deal to take the owner of Dunkin’ Donuts and Baskin-Robbins chains private would value it at $106.50 a share. That represents a nearly 20% premium over Dunkin’s last closing share price on Oct. 23, before the New York Times first reported the deal talks.

Including debt, the deal is valued at about $11.3 billion, Inspire Brands said.

Sales at Dunkin’ and Baskin-Robbins have improved from their lockdown lows in recent weeks, boosted by strong demand for its curbside pickup, drive-thru and delivery options.

Dunkin’ and Baskin-Robbins on Thursday posted a surprise rise in U.S. comparable sales in the third quarter.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Johnson relaxes 2-metre rule in England as coronavirus lockdown eases





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here