Dunkin’ Brands Group Inc. said it plans to open more than 1,400 Dunkin’ Donuts restaurants in China.
A joint venture of Jollibee Foods Corp. (JFC) and Jasmine Asset Holding Ltd. will open and operate the restaurants as franchisee, Bloomberg News reported, citing a statement from Dunkin’. The first new store may open in the fourth quarter.
Dunkin’ has been expanding since going public in 2011, adding stores in the United States, Australia, Vietnam and Germany, the report said.
It already has 16 restaurants in China and more than 2,200 in its Asia Pacific region.
Jasmine is a subsidiary of RRJ Capital, an investment firm that focuses on China’s food and consumer sectors. The firm has offices in Hong Kong and Singapore. Jollibee, based in Manila, runs its namesake, Chowking and Mang Inasal fast-food outlets.
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