| A consortium of leading global private-equity firms consisting of Bain Capital Partners LLC, Carlyle Group and Thomas H. Lee Partners LP have signed a definitive agreement to purchase Dunkin' Brands Inc. from Pernod Ricard SA for $2.425 billion in cash. Together with the new ownership group, Dunkin' Brands is affirming its commitment to continuing to build the company's Dunkin' Donuts, Togo's and Baskin-Robbins brands through an aggressive expansion program across the United States and throughout the world. Bain Capital, the Carlyle Group and Thomas H. Lee Partners have extensive operational expertise, including substantial experience in financing and executing investments in the quick service restaurant, food and beverage, and retailing industries. The firms also collectively have a history and experience of partnering with superior management teams to own, nurture and grow some of the world's greatest brands. "This transaction provides for the future of Dunkin' Brands, its franchisees, restaurant employees and customers," said Dunkin' Brands CEO Jon L. Luther. "With our new owners ready to support us in our growth efforts, a strong management team on board and continued excellent franchisee relationships, Dunkin' Brands is well-positioned for global expansion. We have high and growing market shares, innovative products in our restaurants and under development, and we operate in a market filled with growth opportunities. We are thrilled to have such experienced partners help us to leverage what Dunkin' Brands has put into place." Luther noted that Dunkin' Brands is particularly pleased that the Bain Capital, Carlyle Group and Thomas H. Lee Partners consortium decided to move forward with the transaction, and believes they will work closely with Dunkin' Brands' management team and franchisee community to maximize the potential of the Dunkin' Donuts, Togo's and Baskin-Robbins brands. "The strong interest from a number of parties during the divestiture process is a testament to the strength of our brands. We view Bain Capital, Carlyle Group and Thomas H. Lee Partners as strong partners and are confident that the group's history of successful investments in the competitive quick- service restaurant industry will make it an excellent steward of our brands," Luther said. Patrick Ricard, Chairman and CEO of Pernod Ricard, commented, "Today's announcement represents the fulfillment of our commitment at the time of the Allied Domecq acquisition to use proceeds from the sale of Dunkin' Brands to reduce our debt. Under its new owners, Dunkin' Brands will be able to build on its solid platform, and we will focus our management skills on delivering top and bottom line growth and increased shareholder value from our core spirits and wines business. We wish Dunkin' Brands every success." Luther concluded, "Dunkin' Brands will continue to grow and evolve to meet the demands of today's busy customers who are looking for fast, fresh, affordable, high-quality food and beverage choices. We will continue to innovate with new menu items to raise the bar on the quality and variety of foods available in the quick-service industry - changing expectations about what is possible in a quick meal, whether in the restaurant or on the go." |