Lone Pine Capital Reports $205.9 Million Stake in Dunkin’ Brands
Lone Pine Capital LLC has reported a 6.70 percent stake worth $205.89 million in Dunkin' Brands Group Inc. (Nasdaq: DNKN), according to an SEC filing.
The Greenwich, Conn.-based hedge fund, founded in 1997, said it owned 7.02 million shares in the Canton, Mass.-headquartered parent of Dunkin' Donuts and Baskin-Robbins. The stake’s value is based on the stock’s closing price of $29.33 per share on Sept. 10.
In its 13F filing for the quarter ended March, Lone Pine reported no holding in Dunkin’ Brands.
Lone Pine founder Stephen Mandel Jr. was named a beneficial owner of the entire stake. He was previously a senior managing director and consumer analyst at Tiger Management Corp. Mandel also has worked at Goldman Sachs and Mars and Company.
With more than 16,800 points of distribution in nearly 60 countries worldwide, Dunkin' Brands is one of the world's leading franchisors of quick service restaurants serving hot and cold coffee and baked goods, as well as hard-serve ice cream.
At the end of 2011, Dunkin' Brands' nearly 100 percent franchised business model included more than 10,000 Dunkin' Donuts restaurants and more than 6,700 Baskin-Robbins restaurants. For the full-year 2011, the company had franchisee-reported sales of approximately $8.3 billion.
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