Pernod Ricard has completed the sale of quick service restaurant business Dunkin' Brands for US$2.4bn to a consortium of global private equity firms.

The consortium, consisting of Bain Capital Partners, The Carlyle Group and Thomas H Lee Partners, first tabled its bid on 12 December last year. It will purchase the entire portfolio of US-based Dunkin' Brands, including Dunkin' Donuts, Baskin-Robbins and Togo's.

Net proceeds of the sale, equalling around $1.7bn after tax and transaction costs, will be used to reduce Pernod's debt level, following its acquisition of Allied Domecq last year.