Dunkin' Donuts Puts Up Sandwich Chain Togo's For Sale
Daily Business Update
October 31, 2006

Dunkin' Brands Inc. of Canton said today it has hired an investment banking firm to help it sell Togo's Eateries Inc., a chain specializing in soups and sandwiches, so it can focus on rapidly expanding Dunkin' Donuts.

Dunkin' Brands, which also includes the Baskin-Robbins ice cream chain, was recently acquired by a group of private equity firms, including Boston's Bain Capital and Thomas H. Lee Partners, for $2.43 billion.

Dunkin' has disclosed plans to expand to 15,000 US Dunkin' Donuts stores by 2020 from roughly 5,000 today.

In a statement, chief executive Jon L. Luther said, "With the attention of the Dunkin' Brands leadership focused squarely on focusing our growth through global expansion to our larger Dunkin' Donuts and Baskin-Robbins businesses, we believe the sale of Togo's will best position the brand to continue to achieve its promising growth path."

Togo's was founded in 1968 and is headquartered in San Jose, Calif. It currently operates 280 locations, most in California. Dunkin' Brands said Togo's system-wide sales in fiscal 2006 was $157 million. It became part of the Dunkin' empire in 1997.

Dunkin' said Trinity Capital, an investment banking firm in Los Angeles, has been retained to market Togo's to potential buyers.