US: Pernod sells Dunkin' Brands
Pernod Ricard is to sell Dunkin' Brands to a consortium of private equity groups Bain Capital, The Carlyle Group and Thomas H. Lee Partners for US$2.4bn.
Pernod bought the Dunkin' Brands quick service restaurant business as part of the takeover of Allied Domecq in July.
Dunkin' Brands is responsible for the worldwide development, marketing and franchising of Dunkin' Donuts, Baskin-Robbins and Togo's.
The transaction is expected to close during the first quarter of 2006, once certain regulatory authorisations have been obtained. Pernod said it would book around US$1.7bn from the sale and would use the proceeds to reduce debt.
Pernod chairman and CEO Patrick Ricard said: "The sale of Dunkin' Brands, within our expected timetable, is excellent news for Pernod as it allows us to accelerate the reduction of our debt. It follows the sale of our minority stake in Britvic as announced last Friday. It is also good news for Dunkin' Brands' future as they will be able to build on their existing solid platform and on the expertise of their new owners."
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
LVMH has said it is not looking to buy Mumm Champagne from Allied Domecq....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
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