Marc Hasenfuss Editor-at-large

The market responded well to the decision of Grand Parade Investments (GPI) to exit its unpalatable investments in coffee and confectionery brand Dunkin’ and ice cream business Baskin-Robbins. Both these investments were hopelessly under scale and unprofitable, and unlikely ever to sweeten returns. One assumes GPI’s activist shareholders, who recently managed to usher fast-moving consumer goods experts into the boardroom, were unrelenting in their demands that these brands be culled as quickly as possible. Just how bad the brands were as investments is illustrated by GPI opting for a voluntary liquidation of both. Presumably a serious effort was made to find buyers for these businesses, but bland trading in the local fast-food sector would have dampened enthusiasm from potential buyers. The eventual capitulation at Dunkin’ and Baskin-Robbins confirms that GPI’s record of capital allocation has been fairly dismal of late. The decision to lighten up on the profitable gaming assets in ...

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