Dunkin’ Donuts announced today the signing of three multiunit store development agreements in Phoenix totaling 150 new restaurants. The new locations were purchased by InterOcean Coffee Company LLC (72 units); First Cup LLC (63 units); and Olympic Fields Associates LLC (15 units). Currently, plans call for 18 new restaurants to open by the end of 2008. The balance of the restaurants will open over the next several years. The combination of these three agreements officially sells out Phoenix for future franchise development.

InterOcean Coffee Company LLC was formed by InterOcean Equity Partners LLC along with Melrose Asset Management LLC to develop Dunkin’ Donuts restaurants in emerging areas across the United States. Phoenix-based First Cup LLC was formed by several local businessmen with in-depth real estate, retail and product development experience. Members of the FirstCup management team were responsible for creating several successful local businesses including Creative Leather and the Camelback Realty Group. Olympic Fields Associates LLC was created by three partners with various backgrounds, which includes franchise management with Popeye’s, Churches Chicken and Cinnabon, as well as environmental consulting and sports management.

In addition to opening new restaurants in Phoenix, these franchisees have also purchased existing Phoenix Dunkin’ Donuts restaurants, which are currently being remodeled and plan to open later this summer. This remodeling is part of a strategy announced earlier this year to improve the quality of service, experience and menu offerings available to people who live and work in Phoenix. The new design, reminiscent of company roots that date over 57 years, is coupled with contemporary features to give Dunkin’ Donuts a modernized appearance and an improved overall in-store experience. These changes include a new warm bakery display and a baker/merchandiser at the front counter offering samples of warm, freshly baked goods throughout the day, an espresso station and self-service coffee finishing station for customers who prefer to customize their own coffee.

“To fulfill our national expansion goals, Dunkin’ Donuts is looking for multiunit franchisees like InterOcean Coffee Company, First Cup, and Olympic Fields Associates that operate a strong organization, and have the ability to manage a portfolio of units successfully,” says Lynette McKee, CFE, vice president of franchising, Dunkin’ Brands, Inc. “We also look for prior restaurant operations and real estate development experience.”

Building a network of restaurants also enables Dunkin’ Donuts to invest in a distribution model that ensures consistent, high-quality products that customers expect when visiting a Dunkin’ Donuts location. In an effort to keep the brand fresh and competitive, Dunkin’ Donuts offers franchisees a variety of designs and venues, including free-standing stores, sites within shopping centers and convenience stores, as well as other retail environments.

According to McKee, “Dunkin’ Donuts will satisfy a growing demand in Phoenix for high quality coffee and baked goods that are available all day. Dunkin’ Donuts is proud to energize Americans and keep the honest, hard- working, value-driven people of this country running every day — whether it’s in a boardroom, a schoolroom or a construction site. We look forward to being a vibrant part of the community and playing an important role in the daily lives of the people who live and work in and around Phoenix.”

Dunkin’ Donuts continues its expansion across the U.S., and is seeking new franchisees to own and operate a minimum of five restaurants to help direct the company’s future growth in key markets such as Houston, Grand Rapids, Memphis, Detroit and Kansas City. And, now with these store development agreements in Phoenix, and recent successes in selling out the Las Vegas, as well as several Texas markets, the company now has established a strong footprint in the southwestern United States. These milestones are a direct result of the company’s aggressive national expansion plans announced last year.

Dunkin’ Donuts recently launched its new, all-day Oven-Toasted menu. The new platform marks the most significant change to Dunkin’ Donuts product lineup since the company launched espresso-based beverages in 2003. The menu items are now available nationally, in select restaurants.

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