Bronfman will join US investor group Loews, as a partner in the project.
Matthew Bronfman, Edgar Bronfman’s younger brother, has recently joined the partnership to establish Dunkin’ Donuts in Israel. Bronfman joins US investors Hillel Weinberg, of the Loews Group, Adv. Phillip Rosen and Steven Assis, who will establish and manage the chain.
The first Dunkin’ Donuts shop will open at the end of this month, opposite the Gat movie theater in Tel Aviv, adjacent to Rabin Square. Investment in the branch is some $2 million.
Bronfman announced his first Israeli investment was from a private fund, and was not part of the Bronfman group’s investments.
Dunkin’ Donuts is the world’s largest doughnut chain, with over 4,000 branches worldwide. The company sells some 4 million doughnuts per year. Annual turnover for 1995 was $1.5 billion.