– Krispy Kreme has agreed to sell its Japanese operations to private equity firm Unison Capital in a deal valued at about $65m
– The transaction is Krispy Kreme’s first international refranchising agreement since launching its turnaround plan in August
– The deal is expected to complete in the first quarter of 2026
– Krispy Kreme Doughnut Japan currently operates 89 outlets in Japan and around 300 fresh delivery points across major cities including Tokyo and Osaka
– Net cash proceeds from the sale will be used to reduce company debt
– CEO Josh Charlesworth said the transaction marks meaningful progress in the turnaround plan and supports greater financial flexibility
– Krispy Kreme described Unison Capital as a proven operator with deep expertise in retail beverage and restaurant sectors
– Unison Capital was founded in 1998 and focuses on consumer, healthcare and B2B services investments
– The firm has raised around $5bn across six investment vehicles in Japan and three in South Korea
– Unison’s portfolio includes food and drink businesses such as bubble tea, noodles, sushi and wine retail
– Unison co-founder Tatsuya Hayashi said the firm is excited to grow the iconic Krispy Kreme brand in Japan and build on its 20-year presence
