On Oct. 30, 2020, U.S.-based restaurant company IRB Holding Corp. (d/b/a Inspire Brands) announced its plans to acquire Dunkin' Brands in a transaction valued at $11.3 billion. We are placing all our ratings on Inspire Brands, including our 'B' issuer credit rating, on CreditWatch with positive implications. We believe the transaction will improve Inspire's scale and brand diversity, while enhancing profitability and cash generation. We expect to resolve the CreditWatch following a review of the pro forma business and capital structure, when the details of the announced transaction become available. Dunkin' is an entirely franchised concept, specializing in coffee, donuts, and breakfast offerings, with a significant presence in the northeastern U.S. The company also owns Baskin-Robbins, which is also entirely
