Krispy Kreme Announces Strategic Refranchising Agreement for Japan

Krispy Kreme, Inc. has entered into a Share Purchase Agreement for its subsidiary, Krispy Kreme Doughnut Japan Co. Ltd., to be sold to Lei Inc., a special purpose vehicle formed by a fund of Unison Capital, Inc. The sale is expected to close in the first quarter of 2026. The purchase price is based on Krispy Kreme Japan's fiscal year 2025 Adjusted EBITDA, with an expected proceeds of approximately $65 million USD. These proceeds are anticipated to be used for debt pay down after accounting for transaction fees and expenses. The agreement includes customary representations, warranties, covenants, and indemnification provisions. In conjunction with the sale, Krispy Kreme Doughnut Corporation and Krispy Kreme Doughnut Japan Co. Ltd. will enter into a development and franchise agreement at closing. This strategic move aligns with Krispy Kreme's refranchising initiative and aims to enhance financial flexibility.