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Krispy Kreme to Sell Japan Operations to Unison Capital in First International Refranchising Deal

Estimated proceeds of about $65 million depend on Japan’s 2025 results with closing planned in early fiscal 2026.

Overview

  • Company says the agreement advances its turnaround plan by shifting the market to a local operator and reducing leverage.
  • Cash consideration is estimated at approximately $65 million, contingent on Japan’s fiscal 2025 performance and customary closing conditions.
  • Unison Capital, a private equity firm with consumer and restaurant experience, will assume ownership and pursue growth of the brand in Japan.
  • Krispy Kreme’s Japan footprint spans 89 shops and nearly 300 fresh delivery access points across major cities including Tokyo and Osaka.
  • This marks the first international refranchising move since the turnaround plan launched in August 2025, following earlier operational changes such as ending a McDonald’s partnership.