Hoping to emulate the success of US chains like McDonald’s, Pizza Hut and Starbucks, coffee and baked-goods company Dunkin’ Donuts plans to open 1,400 restaurants in China over the next 20 years. Parent company Dunkin’ Brands Group Inc, based in Canton, Massachusetts, announced on Thursday it has entered into a franchise agreement with a joint venture between Jollibee Worldwide Pte Ltd, based in the Philippines, and Jasmine Asset Holding Ltd, a unit of RRJ Capital Master Fund II, LP, an investment firm based in Hong Kong and Singapore. “They have to get the right formula to succeed in China,” said Stephen Anderson, analyst at Miller Tabak + Co LLC in New York. “Having Jollibee as a partner is going to help them tremendously.”…Full Article: China Daily Jan 2015
- As of January 2015, Dunkin’ Donuts has 16 shops in China. The company hopes to open its first new shop during sometime from October to December 2015. Thanks to the deal, the company can establish shops in Beijing, Chongqing, Fujian, Guangdong, Guangxi, Guizhou, Hainan, Hebei, Heilongjiang, Hong Kong, Hunan, Jiangxi, Jilin, Macau, Shanxi, Sichuan, Tianjin and Yunnan.
- In late 2013, Dunkin’ Donuts and Fast Gourmet Group (private equity JV between USA and China) announced plans to open 100 Dunkin’ Donut shops in eastern China.
- Headquartered in Shanghai, Fast Gourmet Group is a restaurant management joint venture founded by Valor Equity Partners (USA), and Tang Investment Group (China). FFG’s sister company, Sizzling Platter (USA), manages Red Robin restaurants, Little Caesars pizzerias, Sizzler restaurants, and Dunkin’ Donuts.
- In December 2014, Starbucks announced plans to open an additional 2,000 new stops in China by 2020. As of December 2014, the company had 1,400 shops located across 84 cities.