Krispy Kreme to expand in the UK

Krispy Kreme UK to open an additional 35 locations in the UK after £25 million management buy-out

Alcuin Capital Partners has supported the £25m (€28.5m) management buyout of doughnut retailer Krispy Kreme UK and aims to almost double the number of Krispy Kreme outlets across the UK from 45 to 80 by 2015.

Alcuin has appointed partner Mark Storey to the board as chairman to work alongside existing joint managing directors, Richard Cheshire and Rob Hunt. The deal has allowed the existing management team to increase their equity stake, while also enabling the company’s original investors, Cheshire and Kent, to realise a return on its investment after launching Krispy Kreme UK eight years ago.

As part of the strategy to grow its UK footprint over the next four years, Krispy Kreme will continue to roll out and develop its distribution model. Richard Cheshire, joint managing director of Krispy Kreme UK, says, “Krispy Kreme has expanded rapidly in the UK since we launched in 2003, and our current business plan aims to build on this growth. With the support of Alcuin, we plan to achieve this by focusing on our core business of making premium-quality doughnuts and coffee, geographically expanding our retail and wholesale operations and providing outstanding career paths for high-calibre people.”
Rob Hunt, joint managing director of Krispy Kreme UK, adds, “Alcuin is an ideal partner, with substantial expertise in supporting rapidly growing businesses with strong management teams. We look forward to working with the team to deliver the Krispy Kreme experience to more people across the UK over the coming years – via further geographic expansion and by developing our customer experience in existing stores.”