Yesterday, America showed its love for doughnuts and put its money where its mouths want to be.
On a bleak day when the Dow Jones average plunged nearly 200 points on fears that the debt ceiling quandary will not be solved, Dunkin’ Brands Group — the parent company of Dunkin’ Donuts — was a lonely bright spot. Yesterday, Dunkin’ Brands had its initial public offering. It started the day’s trading at $19 per share and ended at $27.85 — up a robust 46.6 percent. Dunkin’ Brands has ambitious growth plans that seek to feed on America’s insatiable appetite for fried rings of dough and expand into new markets on the west coast and in Asia and South America.
Americans — and not just policemen, either — eat billions of doughnuts each year, although our per capita consumption apparently lags behind that of our Canadian neighbors to the north. We are addicted to consumption of those heavenly circles of doughy bliss, coated in glaze or honey or chocolate icing, filled with fruit jelly or whipped cream or custard, and topped with colorful sprinkles or coconut shavings or chopped nuts.
As for me, I can’t resist a basic glazed doughnut or a simple cake doughnut with dark chocolate icing. I therefore try to give all doughnut stores a wide berth, lest my waistline mirror Dunkin’ Brands rapid expansion.