Private equity group Fireman Capital Partners (FCP) has taken a majority holding in Dunkin' Donuts franchise owner Surfside Coffee Co LLC. The financial terms of the acquisition deal were not disclosed, according to The Boston Globe.

Business Wire cited Fireman partner Liam Patrick saying of the deal: "Dunkin' Donuts is a remarkable brand, one we are excited to partner with, and we see their franchise model as attractive and highly scalable. Florida is a rapidly growing market, and we look forward to collaborating with the Dunkin' Donuts' team to expand and serve the brand's base of extremely loyal customers."

At present, Surfside runs 38 outlets in the Fort Myers, Miami, and Florida Keys areas. Under the terms of the stake acquisition, the company also entered an agreement to develop at least 23 new stores in the main areas in Florida, the report detailed.

Surfside is a newly formed company that will take ownership of the Dunkin' Donuts franchise group in southern Florida. It is now the biggest franchise of the donut chain in Florida, The Boston Globe reported.