The Beekman Group Portfolio Company Granted Exclusive Dunkin’ Donuts Development Rights in Roanoke, Lynchburg and Blacksburg, VirginiaJuly 10 - 2015
NEW YORK – TBG Food Acquisition Corp. (“TBG FAC” or the “Company”), a portfolio company of The Beekman Group and one of the largest Dunkin’ Donuts franchisees, announced today that it has been selected as the exclusive franchisee for Roanoke, Lynchburg and Blacksburg, Virginia, as well as surrounding communities. The TBG FAC team is excited about this new business opportunity and looks forward to continuing its strong working relationship with Dunkin’ Brands Group, Inc. as the Company looks to add an additional 22 stores over the next 8 years in these selected Virginia territories. This represents the Company’s third exclusive development region granted to TBG FAC in the past five years.
Headquartered in Tuckahoe, NY, TBG FAC is a portfolio company of New York City-based private equity firm, The Beekman Group. TBG FAC currently owns and operates 60 Dunkin’ Donuts and 6 Baskin-Robbins stores, with an additional five new stores in various stages of development, and currently located in Westchester County, New York, and Greenville and Columbia, South Carolina.
“We are excited to have been chosen to continue the growth of our business into this growing new market. We look forward to delivering Dunkin’s quality products and our best practice customer service to these Virginia communities, and contribute to the growth of Dunkin’ Brands across the U.S.,” said TBG FAC CEO, Mr. Peter Marrinan, a 22-year Dunkin’ Donuts veteran.
The dedicated and experienced TBG FAC team consists of managerial, operational, financial and development personnel focused on creating a quality experience and product for every customer at each of its stores. As it has in the past, TBG FAC is steadfast in consistently growing its network and being a valued franchisee to the highly recognizable Dunkin’ Donuts brand. Quality growth has been TBG FAC’s mantra from its initial 16 store acquisition to what is currently a 60 Dunkin’ Donuts store network in two states.
“Our enthusiastic and dedicated franchisees contribute to our brand’s growth, which has helped solidify our position as one of the fastest growing brands by unit count in the quick-service restaurant industry,” said Grant Benson, CFE, vice president of global franchising and business development, Dunkin’ Brands. “We are thrilled this existing franchise group has chosen to expand in the Virginia market, and know these new restaurants will satisfy a growing consumer demand in the local communities they serve.”
About The Beekman Group
The Beekman Group is a leading private equity firm, based in New York, dedicated to bringing financial and operational resources to lower middle-market companies. Beekman’s team consists of experienced private equity professionals, as well as a select group of Industry Advisors, who are leading executives in Beekman’s targeted industry segments. This Industry Advisor approach to investing is the cornerstone of Beekman’s investment strategy — creating value through accelerating growth in partnership with small and middle-market management teams.