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Dunkin’ Donuts, which is part of Dunkin’ Brands Group, Inc. (NASDAQ:DNKN) , is geared up to expand further in Sacramento, CA. To this end, the company has inked multi-unit store development agreements with two franchisees to build nine restaurants in the region over the next several years.
The first agreement is with existing franchisee, Shiva Developments, which is expected to develop four new Dunkin' Donuts restaurants. The second agreement is with a new franchisee group, NorCal Grub, which plans to develop five new outlets. Notably, the first restaurant under each of these agreements is slated to open in 2019.
Currently, Dunkin’ Donuts possesses more than 50 locations in California and is continuing to recruit franchisees in the Sacramento area. These agreements are thus in sync with the company’s plan to drive growth in the region.
Apart from foraying into domestic markets, the company is also looking to expand its footprint internationally, especially in the emerging markets of Asia and the Middle East. Globally, the company has more than 12,400 Dunkin’ Donuts restaurants in 46 countries and is on track to achieve its long-term goal of opening 17,000 restaurants in the United States.
In the last three months, Dunkin’ Brands’ shares have outperformed its industry. While the stock rallied 16.7%, the industry gained 8.1% in the same period.
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