New Delhi, Mar 31 (PTI) Jubilant FoodWorks Ltd, the country’s leading quick service restaurant chain operator, has decided not to renew its franchise agreement with Dunkin’ and close down stores of the American
multinational coffee and doughnut company in a phased manner.
The Multiple Unit Development Franchise Agreement dated February 24, 2011 (MUDFA) between JFL and Dunkin’ is coming to an end on December 31, 2026, according to a regulatory filing by the Bharatia family-promoted entity.
The board of Jubilant FoodWorks Ltd (JFL) has decided for “non-renewal of the development rights granted in MUDFA, entered into for development and operation of Dunkin’ brand in India, upon expiry of its current development term,” said JFL.
JFL will, in a “phased manner”, evaluate and undertake such actions as may be considered appropriate in respect of its existing Dunkin’ brand operations, including “rationalisation and/or cessation of certain operations and/or sale, transfer or disposal of assets and/or assignment or transfer of franchise rights”, in consultation with owners of the Dunkin’ brand.
This will be done strictly in accordance with the terms of the MUDFA, applicable laws, regulatory requirements and contractual obligations, it said.
Incorporated in 1995, the JFL network comprises over 3,500 stores across six markets – India, Turkey, Bangladesh, Sri Lanka, Azerbaijan and Georgia.
The group has a portfolio of global brands — Domino’s and Popeyes — and two own-brands — Hong’s Kitchen and a CAFÉ brand — COFFY in Turkey. PTI KRH HVA
