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Dunkin' begins trading, IPO nets $423MDunkin' begins trading, IPO nets $423M

Stock soars immediately as investors buy in

Bret Thorn, Senior Food Editor

July 28, 2011

1 Min Read
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Bret Thorn

Dunkin’ Brands Inc. sold 22.25 million shares for $19 each in its initial public offering Wednesday, garnering about $423 million.

The parent company to Dunkin’ Donuts and Baskin-Robbins originally set the IPO price range between $16 and $18 per share. When the stock began trading on NASDAQ today, it opened at $24.97, and it had risen as high as $29 during afternoon trading. From the previous day’s close, or the $19 IPO price, the stock has jumped as much as 50 percent.

The stock closed at $27.85, up 46.6 percent.

Dunkin’ Brands shares are trading under the symbol DNKN.

With about 126.4 million shares in common stock now outstanding, the IPO price values Dunkin’ Brands at $2.4 billion, the same value the company was purchased for in 2006. Private-equity groups Bain Capital, The Carlyle Group and Thomas H. Lee Partners made that acquisition.

The funds raised during its IPO will be used to pay down senior debt.

The IPO underwriters also have 30 days to buy another 3.3 million shares, which would raise an additional $63 million.

Headquartered in Canton, Mass., Dunkin' Brands has
9,760 Dunkin' Donuts and 6,433 Baskin-Robbins locations. It had system-wide sales of approximately $7.7 billion at the end of 2010.

Watch a video of Bloomberg reporters discussing Dunkin’

Contact Bret Thorn: [email protected].
Follow him on Twitter: @foodwriterdiary

About the Author

Bret Thorn

Senior Food Editor, Nation's Restaurant News

Senior Food & Beverage Editor

Bret Thorn is senior food & beverage editor for Nation’s Restaurant News and Restaurant Hospitality for Informa’s Restaurants and Food Group, with responsibility for spotting and reporting on food and beverage trends across the country for both publications as well as guiding overall F&B coverage. 

He is the host of a podcast, In the Kitchen with Bret Thorn, which features interviews with chefs, food & beverage authorities and other experts in foodservice operations.

From 2005 to 2008 he also wrote the Kitchen Dish column for The New York Sun, covering restaurant openings and chefs’ career moves in New York City.

He joined Nation’s Restaurant News in 1999 after spending about five years in Thailand, where he wrote articles about business, banking and finance as well as restaurant reviews and food columns for Manager magazine and Asia Times newspaper. He joined Restaurant Hospitality’s staff in 2016 while retaining his position at NRN. 

A magna cum laude graduate of Tufts University in Medford, Mass., with a bachelor’s degree in history, and a member of Phi Beta Kappa, Thorn also studied traditional French cooking at Le Cordon Bleu Ecole de Cuisine in Paris. He spent his junior year of college in China, studying Chinese language, history and culture for a semester each at Nanjing University and Beijing University. While in Beijing, he also worked for ABC News during the protests and ultimate crackdown in and around Tiananmen Square in 1989.

Thorn’s monthly column in Nation’s Restaurant News won the 2006 Jesse H. Neal National Business Journalism Award for best staff-written editorial or opinion column.

He served as president of the International Foodservice Editorial Council, or IFEC, in 2005.

Thorn wrote the entry on comfort food in the Oxford Encyclopedia of Food and Drink in America, 2nd edition, published in 2012. He also wrote a history of plated desserts for the Oxford Companion to Sugar and Sweets, published in 2015.

He was inducted into the Disciples d’Escoffier in 2014.

A Colorado native originally from Denver, Thorn lives in Brooklyn, N.Y.

Bret Thorn’s areas of expertise include food and beverage trends in restaurants, French cuisine, the cuisines of Asia in general and Thailand in particular, restaurant operations and service trends. 

Bret Thorn’s Experience: 

Nation’s Restaurant News, food & beverage editor, 1999-Present
New York Sun, columnist, 2005-2008 
Asia Times, sub editor, 1995-1997
Manager magazine, senior editor and restaurant critic, 1992-1997
ABC News, runner, May-July, 1989

Education:
Tufts University, BA in history, 1990
Peking University, studied Chinese language, spring, 1989
Nanjing University, studied Chinese language and culture, fall, 1988 
Le Cordon Bleu Ecole de Cuisine, Cértificat Elémentaire, 1986

Email: [email protected]

Social Media:
LinkedIn: https://www.linkedin.com/in/bret-thorn-468b663/
Facebook: https://www.facebook.com/bret.thorn.52
Twitter: @foodwriterdiary
Instagram: @foodwriterdiary

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