The UK arm of Krispy Kreme has been sold in a £25m management buyout.

Alcuin Capital Partners has taken a majority stake in the doughnut retailer. The deal will provide funds for Krispy Kreme in its bid to almost double its UK estate to 80 stores over the next four years.

Alcuin partner Mark Storey will join the board as chairman and work alongside joint MDs Richard Cheshire and Rob Hunt. The existing management team have “significantly increased” their equity stake in the business, a company statement said.

"Krispy Kreme has expanded rapidly in the UK since we launched in 2003 and our current business plan aims to build on this growth,” said Cheshire.

“With the support of Alcuin, we plan to achieve this by focusing on our core business of making premium-quality doughnuts and coffee, geographically expanding our retail and wholesale operations and providing outstanding career paths for high-calibre people.”

The brand was launched in the UK eight years ago by original investors Chesire and Kent.

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