This information is not guaranteed, since my memory isn't perfect. However, a friend of my parents had a Mister Donut franchise at one time and sold it when the conversion to Dunkin Donuts started. IIRC, what he said was, the company that owned the Mister Donut name was aquired by the company that owns Dunkin Donuts.
(something rings a bell with me that there was some type of legal action involving trademark infringment or something of that nature. Maybe the logos, color scheme, building design, something like that was 'too close' to the Dunkin Donuts program)
Anyhow, it seems that Mister Donut is no more. From what I recal that this person told me, sometime later, Donut Connection got their start from people who used to have Mister Donut franchises and either sold them or 'lost' them in the conversion. Some lost franchises in small towns where Mister Donut and Dunkin Donut were very close together and the company didn't feel it could support 2 of the same store. I know of a couple smaller towns where they were actually 'across the street' from each other.
I have seen a couple Donut Connections popping up in the local area in the last couple years, before that the only time I ever hear the name was from this person. I don't know how accurate my memory is and the person who told me is no longer around to verify this with. I think this took place somewhere in the early to mid 1990's at least around here.
If anyone knows more feel free to let us all know. I wont feel bad to be proven wrong.
...who prefered Mister Donuts to Dunkin Donuts, but, would rather have a great donut from a local bakery.