Dunkin' Brands Inc. has signed a master franchise agreement to open its first Dunkin' Donuts and Baskin-Robbins restaurants in South Africa.
The company said with Grand Parade Investments Ltd. would develop more than 250 Dunkin' Donuts and 70 Baskin-Robbins outlets in the country over the coming years, with a focus on Cape Town and Johannesburg.
Grand Parade will also work to launch Baskin-Robbins ice cream products at supermarket chains and convenience stores in South Africa over several years, the company said.
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Dunkin' Brands has more than 11,500 Dunkin' Donuts restaurants in 40 countries and about 7,600 Baskin-Robbins outlets in nearly 50 countries.
The company's shares were up 2.5 percent at $38.76 in late morning trading on Thursday.