Doughnut maker Krispy Kreme UK sold to US parent

Krispy Kreme said the transaction would not result in any job losses, and growth is still planned in the UK and Republic of Ireland. The doughnut maker said the deal was very exciting, as the group comes together after it launched in the UK 10years ago.

The deal, agreed on October 2 before being announced this week, is expected to be completed by the end of October.

‘Very exciting’​

Krispy Kreme UK chief executive Mike Dowell said: “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.”​

Krispy Kreme Group chief executive Tony Thompson 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 joy that is Krispy Kreme’​

“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.”​

Meanwhile, Krispy Kreme was sold to Kenco coffee owner JAB Holding in May​. The deal, worth $1.3bn (£935M) was due to be completed in the third quarter of this year.

Krispy Kreme had 50 stores across the UK, and more than 700 stands in supermarkets and service stations. The company had annual revenue of £52M, according to its latest financial results, and a pre-tax profit of £7.2M.