Dunkin' Donuts to Make Massive Push Into China China will soon run on Dunkin' as the chain hopes to gain a stronger foothold with 1,400 new locations.

By Reuters

This story originally appeared on Reuters

Dunkin' Brands Group Inc on Thursday said it has struck a development deal to open 1,400 new Dunkin' Donuts cafes in China over the next 20 years.

The company said it currently has 16 Dunkin' Donuts cafes in China, a key growth market for top U.S. restaurant brands. Dunkin' Donuts rivals McDonald's Corp and Starbucks Corp , currently have roughly 2,000 and 1,400 units, respectively, inChina.

The long-term master franchise agreement, which Dunkin' described as its largest development deal in company history, is with Golden Cup Pte. Ltd.

Golden Cup is a joint venture between Philippines-based Jollibee Worldwide Pte Ltd. and Jasmine Asset Holding Ltd., a wholly owned subsidiary of investment fund RRJ Capital Master Fund II, L.P.

The joint venture has exclusive rights to expand Dunkin' Donuts in new markets, including Beijing, Guangdong, Hong Kong and Macau.

The first restaurant is expected to open in the fourth quarter of 2015.

There are now more than 11,000 Dunkin' Donuts restaurants in 36 countries around the world.

(Reporting by Lisa Baertlein in Los Angeles; Editing by James Dalgleish)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

'I'm Inspired By All the Ways People Invest': MacKenzie Scott Has Donated Over $2 Billion This Year. Here's Where the Money Went—and Why.

Scott gave money to 199 organizations, and 75% were nonprofits focusing on economic security and opportunity.

Business News

'Did We Just Become Best Friends?' Jeff Bezos Dines at Mar-a-Lago With Donald Trump and Elon Musk

Amazon founder Jeff Bezos is the latest tech leader to visit the Palm Beach, Florida, "Winter White House."

Business News

Oscar Mayer Is Hiring Drivers for Its Famous Wienermobile. Here's How to Apply and How Much You'll Get Paid.

The one-year gig is a coveted role—only 1% of applicants become "hotdoggers."

Side Hustle

20 Ways to Make Money from Home in 2023

Making money from home doesn't have to be complicated. Check out these 20 smart ways to make cash from the comfort of your computer desk.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.