Inspire Brands Acquires Dunkin’ for US$11.3 Billion

In the largest restaurant deal since 2014, Dunkin’ and Inspire Brands have entered into a definitive merger agreement under which Inspire will acquire the coffee giant for $106.50 per share in cash. The transaction is valued at roughly $11.3 billion, including the assumption of Dunkin’ Brands’ debt.

“Dunkin’ and Baskin-Robbins are category leaders with more than 70 years of rich heritage, and together they are two of the most iconic restaurant brands in the world,” Paul Brown, co-founder and CEO of Inspire Brands, said in a statement.

“By joining Inspire, these brands will add complimentary guest experiences and occasions to our current portfolio.”

Inspire said Dunkin’ and Baskin-Robbins will be operated as distinct brands within the company’s portfolio, which is how it has run other chains in the past. At close, Inspire will direct 31,600-plus restaurants in 60-plus countries, with $26 billion in annual systemwide sales. It will also employ 600,000 company and franchise team members, 3,200 franchisees, and more than 25 million loyalty members.