Dunkin’ Donuts expanding in China

CANTON, Mass. – Dunkin’ Donuts is expanding its operations in China, and plans to open an additional 1,400 restaurants there over the next 20 years.
The company, in a news release, said on Thursday that it signed the largest development agreement in its history by entering into a long-term master franchise agreement with Golden Cup Pte. Ltd.
Golden Cup is a joint venture between Jollibee Worldwide Pte Ltd. and Jasmine Asset Holding Ltd., a wholly-owned subsidiary of RRJ Capital Master Fund II LP
Said Nigel Travis, chairman and CEO, Dunkin’ Brands, in prepared remarks, “Through this franchise development agreement, the largest in our history, we believe we can significantly expand and accelerate Dunkin’ Donuts presence in China.”
As a result of the agreement, Dunkin’ Donuts will appear in new territories, such as Beijing, Guangdong, Hong Kong, Hunan, Macau, Sichuan, Tianjin and Yunnan.
The first restaurant is expected to open in the fourth quarter of 2015.
Dunkin’ Donuts has more than 11,000 franchised restaurants in 36 countries around the world, including 16 in China and more than 2,200 across the Asia Pacific region.
“The China market offers a tremendous opportunity as its consumer base continues to grow in number and spending power,” Tony Tan Caktiong, chairman of Jollibee Foods Corp., said in a statement.
Terms of the agreement were not disclosed; this marks the latest step in Dunkin’ Donuts’ plan to grow internationally.
Two years ago, Dunkin’ Donuts signed a master franchise agreement with Fast Gourmet Group to open more than 100 restaurants in China’s Shanghai, Jiangsu and Zhejiang regions. Last year, Dunkin’ Donuts signed agreements targeting markets that included Brazil, Sweden and Austria.

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