While the chain takes its name from its baked goods, coffee is leading the company's growth and a key reason for its expansion.

Canton, Mass.-based Dunkin' Donuts is the No. 1 retailer of coffee by the cup in the United States, selling nearly 1 billion cups a year.

The initial expansion plans will more than quadruple the number of locations in Charlotte, and Tom Wyczawski, Dunkin' Brands concept officer, says there is plenty of room for growth. "We're ramping up efforts in Charlotte because there's a strong demand for our product here and because real estate is available to develop and build new, multi-brand stores."

Over half of the new stores will feature both Dunkin' Donuts and sibling Baskin-Robbins while the rest will be stand-alone Dunkin' Donuts franchises.

Source: Charlotte Business Journal