Tue 4th Oct 2016 - Krispy Kreme UK confirms sale to parent Krispy Kreme UK confirms sale to parent: Krispy Kreme UK has announced the sale of 100% of the company’s share capital to Krispy Kreme Group, its US-based brand owner. Management and shareholders of Krispy Kreme UK (KKUK) received an offer and, after reviewing the offer, agreed to the sale with Krispy Kreme Group on 2 October 2016. The transaction is expected to be completed by the end of the month. KKUK will continue to operate as normal and all staff and management have been retained as part of the transaction. The company will pursue its current business strategy which is focused on delivering profitable growth through the opening of new retail stores and self-serve cabinets across the UK and Republic of Ireland and driving core sales growth across the existing estate. Mike Dowell, chief executive of Krispy Kreme UK, 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. I would like to take this opportunity to thank our outgoing shareholders, Alcuin Capital and Indigo Capital, for all of their support and guidance over the last five years.” Grace Henderson-Londono, partner at Alcuin Capital, said: “We have been a shareholder in KKUK since 2011 and have very much enjoyed working with the management team to grow the business into the extremely successful operation that it is today. We wish the team all the very best for the future.” Tony Thompson, chief executive at Krispy Kreme Group, 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 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.” Krispy Kreme previously reported pre-tax profit surged to £7,274,000 in the UK in the year to 1 February 2015, up from £3,166,000 the year before. Turnover was stable at £52,192,000, compared with £52,393,000 the year before – store numbers were static at 50. Adjusted Ebitda before exceptional costs was £10,281,000 (19.7% of sales), compared with £9,419,000 (18% of sales) in the previous year.