Thursday February 17, 2005

Exclusive: Steve Thomas Sells Dunkin? Donuts Franchises

Owner divesting himself of many businesses
By Staff Writers

    Oswego businessman Steven Thomas has sold his Dunkin Donuts franchises in Oswego County to parties unknown.

    Details are scarce at this time, but Oswego County Business Magazine has learned that Thomas, 43,owner of Peppercorns Inc. and Thomas-Gatas, Inc., has sold all of his five Dunkin? Donuts franchises within the county to one or more parties.

    Thomas late last year divested himself of his two Oswego-based hospitality businesses, the former Thomas Inn and the Days Inn, which he sold to motel operator Rajesh Modi for $2.7 million. Modi later converted the Thomas Inn to a Scottish Inn franchise.

    Thomas was unavailable for comment and his executive assistantdeclined to elaborate on the details.

    Thomas opened his first Dunkin? Donuts franchise on Oswego?s East Side in 1989. His second was built in Fulton in 1995 and a third followed in Pulaski in 1997. A second Oswego franchise was opened on the West Side in 2000. His fifth and final Dunkin? Donuts opened on Fulton?s West Side in 2003.