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Issue Date: Vol. 51, No. 5, May 2011, Posted On: 5/4/2011

Dunkin' Brands Files For $400M IPO

by Staff Reporter
office coffee service, OCS, coffee business, Dunkin’ Brands IPO, Dunkin' Donuts, Dunkin’ Brands Inc., Baskin Robbins Bain Capital, the Carlyle Group, Thomas H. Lee Partners, K-Cup, single-cup coffee pods, Green Mountain Coffee Roasters

CANTON, MA -- Dunkin’ Brands Inc. filed with U.S. regulators to raise up to $400 million in an initial public offering, the company announced on May 4. It plans to list on the Nasdaq under the symbol "DNKN."

Canton, MA-based Dunkin’ Brands is parent to the 9,805-unit Dunkin’ Donuts and the 6,482-unit Baskin Robbins chains. It is currently owned by private-equity groups Bain Capital, the Carlyle Group and Thomas H. Lee Partners, which acquired the company for about $2.4 billion in 2006.

Dunkin' Brands intends to use the proceeds from the IPO to repay debt, and for working capital and general corporate purposes. The filing did not reveal how many shares the company planned to sell or their expected price.

Speculation about a Dunkin' Brands IPO has been growing in recent months. A Reuters report on April 1 suggested that a stock offering could range between $500 million and $750 million.

Dunkin' Brands reported $1.7 million lost for its first quarter in 2011, which ended in March, compared with almost $6 million in profit for the same period last year. Revenue for this year's first quarter rose 9.3% to $139.2 million, reflecting a 2.7% increase in U.S. same-store sales.

Dunkin' Donuts, which previously operated as a unit of Allied Domecq, competes with Dairy Queen, Cold Stone Creamery and Starbucks Corp.

Last year, select Dunkin' Donuts stores began testing the sale of single-cup pods of the retail chain's popular coffee that can be brewed at home in a variety of machines. In February, Dunkin' Brands Inc. signed a deal with Green Mountain Coffee Roasters to sell K-Cup portion packs of Dunkin' Donuts coffee at its stores. Dunkin' Donut K-Cup sales are expected to begin this summer. | SEE STORY

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