Arnold Bloch Leibler has advised US-based Krispy Kreme Doughnut Corporation on its acquisition of the Krispy Kreme Australia and New Zealand franchise business from its founding shareholders.
Krispy Kreme Doughnut Corporation is a global retailer of premium-quality sweet treats, including its signature Original Glazed doughnut, with more than 1,300 retail shops in 31 countries.
The transaction was conducted for Krispy Kreme Doughnut Corporation by ABL Corporate and M&A Partner Jeremy Leibler
, Senior Associate Gavin Hammerschlag
, Lawyer Luke Jedynak and Law Graduate Jessica Spring.
Niren Chaudhary, COO and President of International for Krispy Kreme Doughnut Corporation said: “The transaction marks the next logical step in Krispy Kreme’s ongoing journey to extend ownership of its iconic brand in high-growth markets around the globe. This exciting acquisition of the Krispy Kreme Australia business reflects a unique opportunity to achieve that goal, particularly given the business’s recent success. Over the past four years, Krispy Kreme Australia has delivered double-digit revenue growth driven by a strategic retail expansion in both Australia and New Zealand, and built brand relevance through innovative retail partnerships, interesting shop designs, menu innovation and digital marketing. There are significant opportunities for further growth in the Australian region and we will continue building upon our momentum and expanding into new markets.”
Jeremy Leibler commented on the transaction: “This significant cross-border transaction has been an opportunity for ABL to provide advice from across the firm’s practice areas, and achieve a strong commercial outcome for our client.”
Cross-practice involvement in the transaction included:
Krispy Kreme Australia’s current executive team will remain in place and will continue to lead the business.
The acquisition of the Australia and New Zealand franchise does not include the South Australian market, which is owned and operated independently by the Peregrine Corporation.
Headquartered in Winston-Salem, N.C., Krispy Kreme Doughnut Corporation was founded in 1937. Krispy Kreme doughnuts can be found in approximately 12,000 grocery, convenience and mass merchant stores in the U.S.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premier Australian commercial law firm that provides strategic legal and commercial advice nationally from its offices in Melbourne and Sydney to a diverse range of leading Australian corporations, high-net-worth individuals and large family businesses as well as international corporations. Arnold Bloch Leibler also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.