2 more Dunkin' bidders emerge

Final bids to buy Dunkin' Donuts were due yesterday, and at least two more private equity groups are vying for the Canton restaurant chain, several executives said.

New York firms Kohlberg Kravis Roberts & Co. and Trimaran Capital Partners are planning to submit an offer together, and Providence Equity Partners is teaming up with J.P. Morgan Partners, said executives who are either directly involved in the deal or have been briefed by others with direct involvement.

These businesses join Boston firms Bain Capital LLC and Thomas H. Lee Partners LP and Carlyle Group of Washington, D.C., which are also bidding.

One executive said the bids are going for upward of $2 billion, but details were unavailable yesterday. Executives spoke on the condition of anonymity because of company policies and nondisclosure agreements.

JP Morgan Chase & Co. is handling the auction, and the winner is expected to be disclosed in coming weeks.

Spokesmen representing the bidding teams either declined to comment for the record or did not return calls.

French distiller Pernod Ricard SA is preparing to sell off the Dunkin' Donuts brands, including Dunkin' Donuts coffee and doughnut chain, Baskin-Robbins ice cream, and Togo's sandwich shops. Pernod acquired the fast-food restaurants in July, after it purchased Dunkin' parent Allied Domecq this year in a $13.3 billion deal.

Pernod, which did not return calls seeking comment yesterday, previously said it plans to divest itself of the chains because they do not fit in with its focus on spirits. Collectively, the brands generated about $4.8 billion in revenue last year.

Dunkin' Donuts is widely viewed as the crown jewel of the three restaurant chains, with a 12 percent increase in sales last year and more than 6,000 locations worldwide.

Two other investment firms, Blackstone Group and Texas Pacific Group, had expressed interest in the Dunkin' brands, but they are no longer pursuing the chains, several executives said. Blackstone Group and Dunkin' Donuts spokesmen would not discuss the deal.

Last week, Dunkin' Donuts Independent Franchise Owners Inc. hired an investment banking firm to represent its interests. The franchise owners said they weren't interested in buying the company, but want to guard their interests -- about $5 billion invested in about 4,500 stores and distribution centers.

Al Capraro, a representative for the franchise owners, declined to comment yesterday.

Nearly all of the private equity teams have experience in the food and beverage industry. Bain and Carlyle's major holdings include Domino's Pizza, Burger King, and Dr Pepper/Seven Up Bottling Group. Lee's holdings include mattress maker Simmons Co. and publisher Houghton Mifflin, but the Boston firm at one time owned the beverage giant Snapple.

Trimaran recently purchased El Pollo Loco, a national quick-service chain specializing in flame-grilled chicken and other Mexican entrees.

Kohlberg was previously invested in food companies including Stop & Shop, Randall's, , and Safeway. JP Morgan's portfolio includes AMC Entertainment and Pinnacle Foods, while Providence Equity Partners, of Providence, specializes in communications and media companies.

Jenn Abelson can be reached at abelson@globe.com.