Dunkin’ Donuts, owned by private-equity firms Carlyle Group, Thomas H. Lee Partners and Bain Capital, is the latest in a series of U.S. restaurant chains to tap into the booming demand for fast food in Asia’s third-largest economy.Dunkin’ Donuts, known primarily as a breakfast chain in the United States, will offer an all-day dining experience in India, the president of the company said.
“Expansion to India is an integral part of Dunkin’ Donuts international growth plan,” said Nigel Travis, adding that the company would open its first store in India early next year.
Several chains, including Domino’s Pizza, McDonald’s and YUM Brands with its KFC, Pizza Hut and Taco Bell units, have entered the Indian market in recent years, adapting their menus to the Indian palate.
“Dunkin’ provides flexibility in localizing recipes, and we have strengths in food and culinary which we intend to leverage,” Jubilant Chairman Shyam Bhartia and Co-Chairman Hari Bhartia said in a statement.
Doughnuts are a recent food trend in India, where the first doughnut chain — Mad Over Donuts opened in 2008.
With its more extensive menu, Dunkin’ will likely compete more directly with fast food chains in India, where more than 60 percent of the population, or 700 million people, are under the age of 30 and make a prime target for fast food.
Jubilant, which raised $71 million about a year ago in a popular initial public offering, said it plans to open 25 to 30 Dunkin’ Donut stores in three years.
Dunkin’ has more than 9,700 restaurants in 31 countries.