Dunkin’ Donuts has struck a deal to open more than 1400 locations in China over the next 20 years.
The chain said in an email on Wednesday there are currently 16 Dunkin’ Donuts locations in the country.
Parent company, Dunkin’ Brands Group Inc, which is based in Massachusetts and also owns Baskin Robbins, has entered into a master franchise agreement with Golden Cup.
The group is a joint venture between Jollibee Worldwide, based in the Philippines, and Jasmine Asset Holding, a unit of RRJ Capital Master Fund.
Janney analyst Mark Kalinowski said the agreement could lead to “a very nice international growth platform” for Dunkin’ Donuts if successful.
He noted that Jollibee is a “premier restaurant operator” and the largest quick-service concept in the Philippines.
A year ago, Dunkin’ Donuts also announced a separate agreement with Fast Gourmet Group to develop more than 100 stores in eastern China.
On Monday, the chain said it signed a franchise agreement to open more than 100 locations throughout Mexico.
Dunkin’ Donuts ended the most recent quarter with about 3,200 international locations.
In the US, it had about 8000 locations, giving it more than 11,100 locations.
The chain has been expanding domestically as well, and recently opened its first traditional location in Southern California.
Source insideretail.com.au