US-based Krispy Kreme Group acquires UK Krispy Kreme operation
The UK business (KKUK) this week sold 100% of its share capital to the brand owner after receiving an offer for the business. Shareholders include venture capital firms Alcuin Capital and Indigo Capital.
The deal is expected to complete by the end of the month.
All KKUK staff and management have been retained as part of the transaction, and the business said it will continue to operate as normal.
KKUK secured the development and franchise rights for the UK and Republic of Ireland from the US operation in 2002 and opened the first UK Krispy Kreme site the following year in the Harrods department store in London.
The business has since opened stores in UK cities including Edinburgh, Bristol, Birmingham and Leeds, and also sells doughnuts online.
New retail stores
KKUK said it was focused on growing through opening new retail stores and self-serve cabinets across the UK and Republic of Ireland, and driving core sales across its existing estate.
Krispy Kreme Group had been “very supportive” of the progress of KKUK over recent years, said KKUK chief executive officer Mike Dowell.
“We are excited to be able to partner directly with the existing management team and staff,” said Krispy Kreme Group CEO Tony Thompson.
“The existing team has done a tremendous job building the business over the past 14 years and we support the management team's vision and strategy and will work together with them.”
The deal comes just months after Krispy Kreme Group was itself acquired by investment firm JAB Beech in a $1.35bn deal.
