Dunkin Donuts, an operational arm of Dunkin Brands Group, Inc. (DNKN), recently entered into a multi-store development agreement with new franchisees Buzz and Brad Calkins for opening 12 new shops in Denver, Colorado. One will debut in 2013 while the rest will come up by 2018.
As per the agreement, Buzz and Brad Calkins will manage and control the company's daily operations. They possess the required experience, already handling multi-unit, gas and convenience operations in three states under the Bradley Petroleum banner.
Dunkin Donuts remains focused on its strategy to seize growth opportunities and cater to consumer needs in individual markets. The company continues to expand through development of single and multi-unit opportunities.
In order to be competitive and innovative, Dunkin Donuts offers services through various types of real estate format concepts including free-standing restaurants, end caps, in-line sites, gas and convenience, travel plazas, universities and others. Also, the company has franchisee opportunities available in other cities of Colorado -- Colorado Springs, Fort Collins, Greeley and South Denver.
Recently, Dunkin Donuts has also signed a multi-store development agreement with Star Restaurant Group, for opening nine new shops in Birmingham, Alabama, of which one will open in 2013 and rest by 2017.
Dunkin Donuts is the market leader in the various coffee, donut, bagel and muffin categories. As of now, Dunkin Donuts operates more than 10,000 restaurants worldwide, including more than 7,000 restaurants in 36 states as well as the District of Columbia in the U.S., and more than 3,000 international locations in 33 countries.
Canton, Massachusetts-based Dunkin Brands Group, together with its subsidiaries, owns, operates and franchises quick service restaurants worldwide. It operates under two brands: Dunkin Donuts and Baskin-Robbins. As of December 31, 2011, Dunkin Brands’ had nearly 100 percent franchised business model, which includes more than 16,700 Dunkin' Donuts and Baskin-Robbins restaurants.
Dunkin Brands Group, which competes with the likes of Jamba Inc. (JMBA) and Kona Grill Inc. (KONA), retains a Zacks #3 Rank which translates into a short-term Hold rating. We are maintaining our long-term Neutral recommendation on the stock.
More From Zacks.com