NEW YORK (AP) — Dunkin’ Donuts confirmed Wednesday that it struck a deal to open more than 1,400 locations in China over the next 20 years.
The chain said in an email there are currently 16 Dunkin’ Donuts locations in the country.
Parent company Dunkin’ Brands, which is based in Canton, Massachusetts and also owns Baskin Robbins, said it entered into a master franchise agreement with Golden Cup Pte. Ltd. The group is a joint venture between Jollibee Worldwide Pte Ltd., based in the Philippines, and Jasmine Asset Holding Ltd, a unit of investment firm RRJ Capital Master Fund II, L.P., according to Dunkin’.
The deal was noted Wednesday by Janney analyst Mark Kalinowski, who cited an overseas report about it.