Krispy Kreme sold to US parent as UK floatation plans deserted
US doughnut chain Krispy Kreme is buying the UK business from its private-equity owner.
Earlier in the week Krispy Kreme UK abandoned its planned £200m London initial public offering after a bid from its US parent.
No financial details were disclosed but it’s thought the price tag is in the region of the planned IPO, which was set to value the business at between £187m to £212m. Private equity investor Alcuin took a majority stake in the UK business in 2011 for £25m.
The purchase will not result in any job losses in the UK operation, according to a statement from the company.
Krispy Kreme UK operates 50 stores in the UK and has around 700 concessions in supermarkets and service stations across the country.
JAB Holding, an investment vehicle of the Vienna-based Reimann family, acquired Krispy Kreme Group earlier this year in a £1bn deal.