Franchisee to Open Six Restaurants in Greenville and Eight in Columbia
New York, October 4, 2010 – The Beekman Group, a private equity firm specializing in small and middle-market companies, today announced that portfolio company TBG Food Acquisition Corp. (“TBGFAC”) will build fourteen Dunkin’ Donutsrestaurants in South Carolina. TBGFAC will develop six restaurants in Greenville and eight in Columbia. Restaurants in both markets will begin to open in 2011 with the 14-store development expected to be completed by 2016.
The Beekman Group partnered with Peter Marrinan, a 14-year Dunkin executive, to develop TBGFAC through new store development and strategic acquisitions. TBGFAC began with 16 stores in December 2005 and currently owns and operates 44 locations, including 14 restaurants in Greenville in addition to its 30 locations in and around Westchester County, New York.
“We are pleased to continue the growth of Dunkin Donuts in our TBGFAC portfolio company,” said John G. Troiano, The Beekman Group’s managing partner. “Since our initial acquisition in December 2005, we have worked with Dunkin’ Brands and TBGFAC management to almost triple the company’s locations through new store openings and acquisitions. We look forward to continuing this development in South Carolina and New York.”
During the first half of 2010, Dunkin’ Donuts opened 338 net new locations worldwide with 75 of those new restaurants opening in the U.S. The company also signed 72 new domestic development commitments, continuing to hold its spot as one of the fastest growing brands in the QSR industry.
“Dunkin’ Donuts welcomes The Beekman Group to the South Carolina market,” said Grant Benson, CFE, vice president of franchising and market planning, Dunkin’ Brands, Inc. “As existing Dunkin’ franchisees, they possess a wealth of knowledge on the brand, and we are thrilled they are expanding their network in Greenville and Columbia. These restaurants will satisfy a growing demand throughout the state for high quality coffee and baked goods that are available all day.”
About Dunkin’ Donuts
Founded in 1950, Dunkin’ Donuts is America’s favorite every day, all-day stop for coffee and baked goods. Dunkin’ Donuts is a market leader in the regular/decaf coffee, iced coffee, hot flavored coffee, donut, bagel and muffin categories, and the largest coffee and baked goods chain in the world. Dunkin’ Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for four years running. The company has more than 9,000 restaurants in 31 countries worldwide. In 2009, Dunkin’ Donuts’ global system-wide sales were more than $5.6 billion. Based in Canton, Massachusetts, Dunkin’ Donuts is a subsidiary of Dunkin’ Brands, Inc. For more information, visit www.DunkinDonuts.com.
About The Beekman Group
The Beekman Group is a leading private equity firm dedicated to bringing financial and operational resources to lower middle-market companies. TBG’s team consists of experienced private equity professionals, as well as a select group of Industry Operating Partners who are leading executives in TBG’s targeted industry segments. This Industry Partner approach to investing is the cornerstone of TBG’s investment strategy — creating value through accelerating growth in partnership with small and middle-market management teams. Visit The Beekman Group at www.thebeekmangroup.com.