New Delhi: Teja Chekuri, a prominent Indian global entrepreneur, recently made headlines with the acquisition of nine Dunkin franchisees in the United States. Through his company, Golden Horn Group, Chekuri purchased these franchises for a whopping USD 18,000,000. Known as Dunkin’ Donuts LLC or simply Dunkin, this iconic American brand is renowned worldwide for its coffee, doughnuts, and quick-service restaurants.
Founded in 1950 by Bill Rosenberg and headquartered in Canton, Massachusetts, Dunkin has grown to become one of the largest coffee and doughnut chains globally, boasting a current portfolio of 13,000 franchisees.
The nine acquired Dunkin franchisees are located in Sharon, Hanover, Weymouth, Braintree, and Quincy, all within Massachusetts. The Golden Horn Group, under the subsidiary OM Network LLC, will now own and operate these franchises. Teja Chekuri expressed his enthusiasm about this historic move for his company, highlighting the significant challenge of obtaining a Dunkin franchisee. Recognizing Dunkin’s impressive track record of growth within the industry, Chekuri aims to steer the brand in a new direction of progress.
The initial phase of the acquisition involves the nine Dunkin stores in and around Boston, Massachusetts. However, Chekuri has set ambitious goals for the future, with plans to expand the franchise network to 150 outlets across various U.S. cities within the next five years. To achieve this, the company is focusing on strengthening its backend systems to facilitate faster growth. Leveraging their expertise in establishing international concepts in the global restaurant industry, Golden Horn Group aims to contribute to the vibrancy and expansion of the Dunkin brand. As part of this restructuring effort, teams will be reorganized to effectively pursue this target.
Obtaining official approval from Dunkin for the acquisition was a meticulous process that spanned nearly two years. The transition of ownership will also be a detailed undertaking, projected to be completed within a timeframe of 6-8 months. Teja Chekuri’s acquisition of these Dunkin franchisees not only marks a significant milestone for his company but also showcases his determination to drive growth and innovation within the brand.