Dunkin' Donuts may soon really be able to live up to its slogan -- "America runs on Dunkin'".
Dunkin' Brands Group (DNKN) raised roughly $423 million after its IPO priced above expectations Tuesday evening. The company sold 22.25 million shares priced at $19 each. After prolonged delay Wednesday morning, the stock jumped more than 30% when it opened for trading and was recently fetching nearly $27.
The company is set to use the funds to pay down debt and expand the Dunkin' Donuts brand across the Midwest and to the West Coast. Dunkin', which ranked #1 ahead Starbucks in terms of customer loyalty over the last five years, plans to double U.S. storefronts over the next two decades.
Right now the chain operates only 100 of its 6,800 stores outside the Northeast. That means a new store and fresh cup of joe could be coming very soon to a location near you!
But the expansion of the blue-collar, no-frills brand could have negative implications for small local coffee shops and it could evenRead More »from Coffee Wars: Is Dunkin’ Donuts More Valuable Than Starbucks?