Competition authority authorizes Restaunsa to purchase Dunkin Donuts assets

The Superintendency of Economic Competition authorized the economic concentration operation notified by Restaurantes Unidos RESTAUNSA S.A., which acquires all productive and operational assets with which Donut House S.A. operates the DUNKIN DONUTS franchise in Ecuador. The decision is contained in Resolution No. SCE-CRPI-17-2026, published in the Second Supplement No. 379 of the Official Registry on September 29, 2026. The authorization was granted without the imposition of any conditions.

The scope of the operation

The resolution was issued on August 7, 2026, by the First Instance Resolution Commission (CRPI) of the Superintendency of Economic Competition, with the reporting commissioner Ingreed Cajas Torres. The administrative act details that the transaction consists of the acquisition, by RESTAUNSA, of all productive and operational assets employed by DONUT HOUSE in the operation of the DUNKIN DONUTS franchise. Consequently, the acquirer will assume exclusive control of the business unit, which comprises the preparation, production, distribution, and commercialization of donuts, bakery products, pastries, desserts, and beverages under that brand.

• Acquirer: Restaurantes Unidos RESTAUNSA S.A., incorporated in Ecuador, dedicated to the preparation, production, packaging, and sale of food, bakery, pastry, and desserts, and to the installation and administration of coffee shops.
• Seller: Donut House S.A., whose share capital belongs entirely to José Antonio Kronfle Di Puglia.
• Investigation file: SCE-IGT-INCCE-18-2025; substantiation file: SCE-CRPI-17-2026.

The thresholds that mandated notification

Report SCE-IGT-INCCE-2026-019, from the National Intendancy for the Control of Economic Concentrations (INCCE), calculated the turnover in Ecuador of the operation at USD 2,466,239,253, based on the financial statements as of December 31, 2024, of the operators and their affiliated companies. The threshold of letter a) of Article 16 of the Organic Law for the Regulation and Control of Market Power (LORCPM) was set at 200,000 Unified Basic Remunerations, equivalent to USD 94,000,000 in 2025.

The operation also met the condition of letter b) of the same article: RESTAUNSA will acquire the market share that DONUT HOUSE holds in the relevant markets for the service of preparation and sale of food and beverages in coffee shops and specialized establishments located in the areas of influence of Riocentro Entre Ríos and Paseo Shopping Machala, exceeding the 30% threshold in both cases.

Relevant markets and vertical relationships

The INCCE delimited six relevant markets for the analysis:

• Food and beverage preparation and sales services in cafeterias and specialized establishments within shopping centers.
• Digital brokerage services for last-mile delivery, with local city-wide reach.
• Management and administration of commercial real estate asset rentals in shopping centers.
• Retail marketing of mass consumption products in supermarkets, hypermarkets, and hard discount establishments.
• National distribution of bakery and pastry products.
• Marketing of bakery and pastry products to corporate clients.

The report concluded that the concentration is vertical in nature, with current and potential links between the operators’ activities, and that it does not generate a substantial decrease in competition nor create or reinforce a dominant position. Among the evaluated elements are the relationship between the acquiring group’s commercial premises and DONUT HOUSE establishments, SUPEREASY delivery services, and the potential supply to Grupo El Rosado self-service stores. The CRPI shared this criterion and ruled out significant risks of vertical foreclosure.

The Commission’s Decision

In the operative part, the CRPI ordered to AUTHORIZE the economic concentration operation notified by Restaurantes Unidos RESTAUNSA S.A., in accordance with articles 21 and 22 of the LORCPM, articles 20.1 and 21 of its Regulations, and article 31 of the Administrative Procedural Management Instructions of the Superintendency of Economic Competition. It also ordered the resolution to be declared confidential, the preparation of its non-confidential and public version, notification to the economic operator, and the archiving of the administrative file.

The act was signed by commissioners Marco Landázuri Álvarez, Ingreed Cajas Torres, Miguel Cumbicus Jiménez, and María José Gutiérrez Núñez, and by the president of the Commission, Marcelo Ortega Rodríguez.

The authorization enables the continued operation of the DUNKIN DONUTS franchise under a new controller and closes a file opened in 2025, following an investigation that the Intendancy itself described as having been carried out between January and July 2026. For the food and restaurant market, the resolution confirms that the operation does not substantially alter the competitive structure or supply incentives, and notes that the acquiring group maintains relevant positions in shopping center management and mass consumption retail trade.

Source: Official Registry, Second Supplement No. 379, September 29, 2026, Section I, p. 1 (official reference: Resolution No. SCE-CRPI-17-2026).