Charlotte, NC (December 19, 2025) * Krispy Kreme, Inc. (NASDAQ: DNUT) announced a strategic refranchising agreement for its operations in Japan. The company has reached an agreement for Unison Capital, Inc. to purchase its operations in Japan, with expected cash proceeds of approximately $65 million. The transaction is projected to close in the first quarter of 2026.
Krispy Kreme's operations in Japan have seen significant growth over the years, with 89 locations and nearly 300 fresh delivery points of access across Tokyo, Osaka, and other major cities nationwide.
Unison Capital, founded in 1998, specializes in consumer, healthcare, and B2B services and has raised approximately $5 billion in assets across six funds in Japan and three funds in South Korea. The firm has a proven track record with investments in various retail and restaurant sectors.
Krispy Kreme CEO Josh Charlesworth stated, "The sale of our Japan business is an important step in advancing our refranchising initiative, supporting greater financial flexibility, and reducing debt."
The announcement comes as Krispy Kreme celebrated 20 years in Japan, marking a significant milestone for the brand.
The intended use of the proceeds from the transaction is for debt pay down after covering transaction-related fees and expenses.
This move is part of Krispy Kreme's broader turnaround plan, and the company aims to leverage the transaction to enhance financial flexibility and reduce debt. The company's purpose of touching and enhancing lives through the joy that is Krispy Kreme guides its operations every day.
The transaction with Unison Capital reflects Krispy Kreme's commitment to advancing its refranchising initiative and strengthening its position in the global marketplace. The market has reacted to these announcements by moving the company's shares 1.19% to a price of $4.695. For the full picture, make sure to review Krispy Kreme's 8-K report.
