India-based global entrepreneur Teja Chekuri has acquired nine US Dunkin franchisees for USD 18,000,000 via their company Golden Horn Group.
Dunkin’ Donuts (DD) LLC, also known as Dunkin is an American multinational coffee and doughnut company.
The Dunkin brand currently operates 13,000 franchisees worldwide. Nine of these are in Sharon, Hanover, Weymouth, Braintree, Quincy in Massachusetts are now owned by the Golden Horn Group and will be operated under OM Network LLC.
Teja Chekuri said, “As an official Dunkin franchisee, we now have the opportunity to lead the brand in a new direction of growth. We start with 9 Dunkin stores in and around Boston, Massachusetts today and intend to reach 150 outlets in 5 years across several cities in the US. To achieve this, we are in the process of strengthening backend systems that will enable us to grow faster.”
Chekuri added, “Our current expertise in establishing international concepts in the global restaurant industry will add to the vibrancy and growth of the brand as we restructure teams to chase this target.”
The official Dunkin approval for this acquisition took almost 2 years and the transition of ownership will be a detailed process that will be completed in 6-8 months.