Graviss Group Reportedly in Talks to Acquire Dunkin' Donuts India Rights

New Delhi: Baskin Robbins' operator Graviss Group is in talks to acquire the India rights for donut-and-coffee chain Dunkin' from the latter's global parent Inspire Brands, said people aware of the development. "Graviss and Inspire are in talks for a potential deal, as there are obvious retail, supply and backend synergies between Baskin Robbins ice-cream and Dunkin' Donuts," one of the persons said.

This follows Jubilant FoodWorks transferring the India franchise rights of Dunkin' back to Inspire Brands, as reported by ET in its April 24 edition. At the time, a Dunkin' spokesperson told ET that it won't exit the Indian market and instead plans to expand with a new franchise partner in the country.

Jubilant, which also operates the larger Domino's Pizza and fried chicken chain Popeyes in India, is terminating its 15-year franchise deal with Dunkin' on December 31, amid piling losses.

"If the discussions, currently underway, materialise, then the Graviss Group management is expected to revamp the entire Dunkin' business since the concept of donuts-and-coffee by itself has not worked out in India," a second person said. "This could include more Indianised desserts, sugar-free options, and a larger menu."

Graviss Group and Inspire Brands didn't respond to ET's email queries. Graviss Group also has interests in hospitality and real estate. It owns InterContinental Marine Drive hotel in Mumbai, Mayfair Banquets, and low-calorie ice-cream brand The Brooklyn Creamery. Graviss Foods, which runs the group's foods business, reported FY25 revenue of ₹354 crore, Tracxn said, citing data sourced from regulatory filings.

Massachusetts-headquartered Baskin Robbins entered India in 1993 through a joint venture with Graviss Group. In 2007, Graviss acquired 100% ownership of the Baskin Robbins brand in the SAARC region. According to Graviss' website, Baskin Robbins has more than 800 ice-cream parlours across 230 cities, in addition to 5,000 retail points of sale. It also supplies to overseas franchise partners of Baskin Robbins in Maldives, Mauritius, and Seychelles, among other countries.

Jubilant announced in a regulatory filing in March that the decision to exit its partnership with Dunkin' "will not have any material operational or financial impact on the company." As of FY25, there were only 27 Dunkin' operational stores in India, contributing an insignificant 0.61% to Jubilant's revenue, while losses reached nearly ₹19.1 crore.

Inspire Brands had acquired Dunkin' globally in 2020 and subsequently signed up with Jubilant for an exclusive India franchise deal. Jubilant set up the first Dunkin' store in India in April 2012, reaching more than 70 stores within four years, but with the concept of standalone stores selling only donuts and beverages struggling in India, the Indian partner either closed stores or downsized many larger stores into kiosks or takeaways.