Krispy Kreme in the US has announced 100% of its shares have been sold to US-based brand owner company Krispy Kreme Group.
The deal with current brand owner in the UK private equity group Alcuin Capital was agreed earlier this week and is expected to be completed by the end of the month.
Krispy Kreme UK (KKUK) will continue to operate as normal and all staff and management have been retained as part of the transaction.
Alcuin had previously appointed Investec to explore opportunities to list the UK arm of the brand before agreeing the sale this week.
KKUK said it will continue to pursue its current business strategy, which is focused on delivering profitable growth through the opening of new retail stores and self-serve cabinets across the UK and Republic of Ireland.
Mike Dowell, CEO of Krispy Kreme UK, commented: “Today’s announcement is very exciting for our business and all of our people. Krispy Kreme Group has been very supportive of our progress and growth over recent years and we look forward to working more closely with them as we continue to grow the brand in the UK and Ireland.”
Tony Thompson, CEO at Krispy Kreme Group, said: “We are excited to be able to partner directly with the existing management team and staff to deliver the next chapters of growth in the UK and Ireland.
“The existing team has done a tremendous job building the business over the past 14 years and we look forward to continuing to share the joy that is Krispy Kreme with their expertise. We support the management team’s vision and strategy and will work together with them building on our Krispy Kreme culture, values and commitment to our customers and guests.”
Grace Henderson-Londono, partner at Alcuin Capital, added: “We have been a shareholder in KKUK since 2011 and have very much enjoyed working with the management team to grow the business into the extremely successful operation that it is today.”