Dunkin' Brands Group, Inc.’s DNKN Dunkin' Donuts brand recently inked a multi-year marketing agreement with The Madison Square Garden Company MSG sending shares of the quick service restaurant up almost 2% during the trading session on Tuesday.
Per the deal, Dunkin' Donuts would be the official coffee, baked goods and breakfast sandwich partner of the Madison Square Garden arena, the New York Knicks and the New York Liberty basketball teams, as well as the New York Rangers hockey team.
Dunkin' Donuts’ brands will be promoted via LED signage during sporting events throughout the arena as well as courtside and featured on Madison Square Garden’s GardenVision – the state-of-the-art centerhung multimedia display. Further, the company will have two stalls within the arena.
Further, the doughnut maker would be the presenting partner of Knicks and Liberty digital features, including custom web pages on the websites of both the basketball teams, as well as that of Rangers "Morning Skate” – the light workout on the ice in the morning of the hockey game.
The deal will be advantageous to Dunkin’ as Madison Square Garden is one of the most popular arenas in the U.S. that can accommodate around 20,000 people. The arena reportedly hosts nearly 200 regular season basketball and hockey games annually, which will help Dunkin’ to increase its visibility as a brand and attract customers through digital and social media.
By associating itself with the New York Knicks, the New York Liberty basketball teams, and the New York Rangers hockey squad, Dunkin’ Donuts would also be able to capitalize on the popularity of these teams, and connect more with their fans.
Dunkin’ Brands currently carries a Zacks Rank #2 (Buy). A couple of other favorably ranked stocks in the same sector are Bojangles', Inc. BOJA and Carrols Restaurant Group, Inc. TAST. Both the stocks sport a Zacks Rank #1 (Strong Buy).
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