MUMBAI, Feb 24 (Reuters) - U.S.-based Dunkin’ Donuts, one of the largest coffee and baked goods chains, is in talks to enter India through a franchisee deal with Jubilant Foodworks (JUBI.BO), the Economic Times reported on Thursday.
Dunkin’ Donuts, rival to Starbucks Corp (SBUX.O), will target the mass coffee segment in India, the newspaper said, citing an unnamed official familiar with the potential deal.
The company is a unit of Dunkin’ Brands Inc, which is owned by Bain Capital, Carlyle Group [CYL.UL] and Thomas H. Lee Partners [THL.UL].
Officials at Jubilant declined to comment on the report, but said they have called a news conference in New Delhi at 11:45 a.m. (0615 GMT).
Earlier this month, Chief Executive Ajay Kaul had told Reuters the company, which runs Domino’s Pizza (DPZ.N) chain in India, was close to a deal with another global food retailer but did not disclose names. [ID:nSGE71709W]
Shares in Jubilant, which the market values at $730.7 million, were trading up 7.4 percent at 549 rupees at 10:17 a.m. (0447 GMT), while the main stock index .BSESN was down 0.92 percent. (Reporting by Kaustubh Kulkarni; Editing by Rajesh Pandathil)