Global coffee and baked-goods chain Dunkin’ Donuts announced plans to expand operations in China where it will develop more than 1,400 new restaurants during the next 20 years as part of a joint venture between Jollibee Worldwide Pte Ltd. and Jasmine Asset Holding Ltd., a subsidiary of RRJ Capital Master Fund II, L.P.
According to the company, the joint venture has exclusive rights to expand Dunkin’ Donuts in new territories, including Beijing, Chongqing, Fujian, Guangdong, Guangxi, Guizhou, Hainan, Hebei, Heilongjiang, Hong Kong, Hunan, Jiangxi, Jilin, Macau, Shanxi, Sichuan, Tianjin and Yunnan. The opening of the first restaurant is expected in the fourth quarter of 2015.