Krispy Kreme Completes Transaction with WKS to Increase Ownership to 80%
The company states: "On March 23, 2026, Krispy Kreme completed a transaction with its joint venture partner, WKS Restaurant Group to increase WKS's ownership stake in the Western U.S. joint venture from 45% to 80% and expand the joint venture's footprint. The total amount payable to the Company in connection with the transaction is approximately $90 million with approximately $50 million of cash to the Company at closing, which it expects to use to reduce debt, and a note payable over time. Following the transaction, the joint venture added 23 shops in California and Hawaii that were previously operated by the Company. This is in addition to the joint venture's existing 50 shops across the Western U.S. and approximately 1,000 fresh delivery locations with strategic partners such as Kroger, Target, and Walmart. The joint venture has further agreed to develop additional shops and plans to expand Krispy Kreme's fresh delivery footprint over the next several years."
