Dunkin' Donuts confirmed Wednesday that it struck a deal to open more than 1,400 locations in China over the next 20 years.
The chain said in an email there are currently 16 Dunkin' Donuts locations in the country.
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Parent company Dunkin' Brands, which is based in Canton, Massachusetts and also owns Baskin Robbins, said it entered into a master franchise agreement with Golden Cup Pte. Ltd. The group is a joint venture between Jollibee Worldwide Pte Ltd., based in the Philippines, and Jasmine Asset Holding Ltd, a unit of investment firm RRJ Capital Master Fund II, L.P., according to Dunkin'.
The deal was noted Wednesday by Janney analyst Mark Kalinowski, who cited an overseas report about it.