Krispy Kreme UK sold to US parent

Doughnut business Krispy Kreme UK has been acquired by its US parent company for an undisclosed sum.

Management and shareholders of Krispy Kreme UK received an offer and, after reviewing it, agreed a sale with Krispy Kreme Group.

Krispy Kreme UK will continue to operate as normal and existing staff and management have been retained as part of the transaction, which is expected to close by the end of the month. The company says it will pursue its current business strategy, which is focused on delivering profitable growth by opening new retail stores and self-serve cabinets across the UK and Republic of Ireland, as well as driving core sales growth across its existing estate.

“Today’s announcement is very exciting for our business and all of our people,” said Mike Dowell, CEO of Krispy Kreme UK. “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.”

While Tony Thompson, CEO at Krispy Kreme Group, added, “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.”

In May, Krispy Kreme Group agreed to be acquired by JAB Holding Company for $1.35bn.