UK private equity firm Alcuin Capital has backed the £25m management buy-out of the British subsidiary of US donut maker Krispy Kreme.
According to the Sunday Times, the MBO is being led by managing directors Rob Hunt and Richard Cheshire, who aim to nearly double the company’s UK stores from 46 to 80 over the next three years. The expansion is expected to create about 800 jobs.
Alcuin, which will become a majority shareholder in the division, recently reached a second close for its third growth capital and small-cap buy-out fund on £81m.
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