Dunkin’ Brands Group, Inc. acquired by Inspire Brands, Inc.
Inspire Brands, Inc. acquired Dunkin’ Brands Group, Inc., a US quick service restaurant franchisor; coffee, donuts and ice cream brand, on Dec 15, 2020.
Preliminary: The announcement date, completion date, stake, deal status and EV/EBITDA are not yet independently verified. Sources conflict on the metric basis. The EV/EBITDA is outside the usual range for comps, so treat it with caution.
Transaction summary
- Target
- Dunkin’ Brands Group, Inc.
- Acquirer
- Inspire Brands, Inc.
- Seller
- -
- Announced
- 2020-10-30(unverified)
- Geography
- United States
- Tags
- CoffeeConsumerdonuts and ice creamFood & Beveragefranchisorquick service restaurant franchisorrestaurantstake private
- Type
- Take Private
- Deal type
- Control
- Stake acquired
- 100%(unverified)
- First added
- 2026-10-04
- Latest update
- 2026-10-29
Value and multiples
100% enterprise value
USD 11B
100% enterprise value | USD
Basis: Estimated
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
8.25x
Period: FY2019 Revenue / Announced Transaction Value
Basis: Derived from source data
EV / EBITDA
25.3x
Unverified
EBITDA basis not stated
Basis: Public source
Basis
- The announced approximate $11.3 billion transaction value included assumed debt; contemporaneous coverage described $8.8 billion as market valuation. FY2019 revenue was $1,370.227 million. Approximate EV/revenue is calculated using announced transaction value and FY2019 revenue. A secondary fairness-opinion summary reports 25.3x EV/LTM EBITDA and $11.6 billion EV; that reported multiple uses a distinct LTM basis and opinion valuation and is not paired with the announced transaction value here. 11,300,000,000 / 1,370,227,000 = approximately 8.25x. FY2019 revenue from the company’s Form 10-K; EV/revenue derived from the approximate announced transaction value. Secondary fairness-opinion summary reports 25.3x EV/LTM EBITDA with a separate $11.6 billion EV.
Source summary
Inspire Brands to Acquire Dunkin’ Brands in $11.3 Billion Transaction
Confirmedfor $106.50 per share in cash in a transaction valued at approximately $11.3 billion including the assumption of Dunkin’ Brands’ debt
Open sourceDunkin’ Brands Group, Inc. Form 8-K, completion of acquisition
Confirmedthe Company became an indirect wholly-owned subsidiary of Parent
Open sourceEX-99.1
Confirmedapproximately $11.3 billion including the assumption of Dunkin’ Brands’ debt.
Open source8-K
ConfirmedOn December 15, 2020, as a result of its acceptance of, and payment for, the Shares
Open sourceThe Wall Street Journal: Dunkin’ to Be Sold to Inspire Brands for $8.8 Billion
ConfirmedThe price of $106.50 a share would give Dunkin’ a market valuation of $8.8 billion.
Open sourceDunkin’ Brands / Inspire Brands fairness-opinion summary
ConfirmedEnterprise Value $11.6B EV / LTM
Open sourceDNKN FO — Dunkin' Brands Group, Inc. / Inspire Brands (Roark Capital) fairness opinion | Mergers & Tribulations
ConfirmedEnterprise Value $11.6B EV / LTM Sales EV / LTM EBITDA 25.3x
Open sourceContinue your research
Related transaction comps
Sonic Corp. (SONIC Drive-In) acquired by Inspire Brands, Inc.
2018-09-25 · Confirmed
View transaction → CoffeeLa Colombe Coffee Roasters acquired by Chobani
2023-12-15 · Confirmed
View transaction → Food & BeverageSubway acquired by Roark Capital Group affiliates
2023-08-24 · Confirmed
View transaction → Food & BeverageFirehouse Restaurant Group Inc. (Firehouse Subs) acquired by Restaurant Brands International Inc.
2021-11-15 · Confirmed
View transaction →