Business First of Louisville reports that restaurant developer Pace Development LLC has reached an agreement with Dunkin’ Brands Inc. to develop 15 Dunkin’ Donuts restaurants in Louisville.
Financial terms of the agreement were not disclosed.
In a news release, Canton, Mass.-based Dunkin’ Brands said the typical franchisee has a minimum net worth of $500,000 and liquid assets of at least $250,000. Pace also operates a chain of Subway sandwich shops.
Under the agreement, Paducah, Ky.-based Pace is expected to open two of the restaurants by 2011, and the rest by 2016.
Business First reported in April that Dunkin’ Brands was seeking franchisees for the Louisville and Evansville, Ind., markets. The company said Thursday that the Pace agreement closes the door on the Louisville market, but the company continues to search for a franchisee in the Evansville market.
According to the company’s Web site, www.dunkindonuts.com, there currently are 33 Dunkin’ Donuts locations in the Louisville area.