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Dunkin' Donuts moves back to California

  |   Updated Jan. 18, 2013 at 4:42 PM
Dunkin' Donuts will set up shop in Southern California in 2015 for the first time in 10 years, The Dunkin' Brands Group Inc. reported Wednesday.

“We are delighted to begin 2013 with the long-awaited announcement that Dunkin’ Donuts will be opening restaurants in California, where there is already incredible passion for our brand. Expansion to California has always been part of our plan to grow Dunkin’ Donuts’ presence in the U.S,” the company said in a recent statement.

The plan is to open 150 stores in Southern California starting 2015 and up to 1,000 shops statewide.

"We are now actively seeking franchisees to open Dunkin’ Donuts restaurants in Los Angeles, Riverside, San Diego, San Bernadino, Ventura and Orange Counties in California. We expect the first new Dunkin’ Donuts restaurants in California to open in 2015," Nigel Travis, Dunkin' Brands's President and CEO said in a statement.

In addition, the company announced they expect to open 360 new locations around the United States this year.

The announcement resulted in an 87-cents (more than 2%) increase on the Dunkin' Brands shares, which are now valued at $34.89, the LA Times reported.

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