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Stock impact report

Krispy Kreme's latest move to shed debt: Deals in Japan and US worth $160 million [Yahoo! Finance]

Krispy Kreme, Inc. (DNUT) 
Company Research Source: Yahoo! Finance
Charlotte-based doughnut giant pays down debt to create financial flexibility for growth. As part of a corporate turnaround strategy, Krispy Kreme completed two major refranchising deals to drive “sustainable, profitable growth,” the company announced Tuesday. Krispy Kreme is focused on nationwide expansion and international franchise expansion. The two transactions for debt repayment are: WKS Restaurant Group (Western U.S. Joint Venture) increased its ownership stake in the Western U.S. joint venture from 45% to 80%. Krispy Kreme received approximately $90 million, including $50 million in cash at closing. The joint venture added 23 former company-operated shops in California and Hawaii, and plans to expand its fresh delivery network over the next several years Unison Capital acquired Krispy Kreme's operations in Japan on March 2 with nearly $70 million in cash. Last year, about 75% of Krispy Kreme's sales were from company-operated locations, according to its annual report Show less Read more
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