Is Krispy Kreme Private Equity Owned?
Krispy Kreme
Includes Krispy Kreme Doughnuts, DNUT
bakery · Charlotte, NC
JAB Holding Company
2016
“JAB bought the doughnuts for $1.35 billion, re-IPO'd them, and watched the stock lose three-quarters of its value while 3,500 locations went dark.”
The PE Playbook
- •JAB Holding bought Krispy Kreme for $1.35 billion in 2016 at $21 per share, took it private, then re-IPO'd it in 2021 — the stock has since lost roughly 80% of its value, trading below $4
- •The McDonald's partnership was supposed to be the growth engine — instead it created 'unsustainable operating costs' of $28.9 million and was terminated in July 2025 after reaching just 2,400 locations
- •Cut 3,500 access points in a single year, including all 2,400 McDonald's locations plus 1,100 other underperforming spots — calling it 'trimming the fat' on a doughnut company
- •Revenue dropped 13.5% year-over-year in Q2 2025 to $379.8 million, with adjusted earnings per share at negative $0.15 — JAB still owns over 40% of a sinking stock
Since the Acquisition
- ▸3,500 places where you could buy Krispy Kreme doughnuts disappeared in a single year — gas stations, grocery stores, and convenience shops all lost their deliveries
- ▸The McDonald's partnership collapse meant 2,400 locations that had just started selling Krispy Kreme pulled them from the menu, confusing customers who'd barely gotten used to the option
- ▸The McDonald's partnership was so poorly executed it was pulled after barely a year, disappointing customers who had just gotten used to finding Krispy Kreme at their local McDonald's
- ▸Fewer delivery trucks and tighter distribution mean the doughnuts that do reach stores are less fresh — the 'Hot Now' experience that built the brand is increasingly rare outside flagship shops
Sources
- Krispy Kreme, McDonald's call off partnership, citing 'unsustainable operating costs' of $28.9 million — Fortune(2025-08-07)
- Krispy Kreme closes nearly 1,000 points of access in Q3 profitability push — Nation's Restaurant News(2025-11-06)
- Krispy Kreme reminds us that doughnuts are a tough business — Restaurant Business Online(2025-08-08)
Also owned by JAB Holding Company
More in Restaurants
Get notified
Stay in the loop. No spam.
Frequently Asked Questions
Is Krispy Kreme owned by private equity?
Yes. Krispy Kreme is currently owned by JAB Holding Company, which acquired it in 2016. JAB bought the doughnuts for $1.35 billion, re-IPO'd them, and watched the stock lose three-quarters of its value while 3,500 locations went dark.
What happened to Krispy Kreme after the acquisition?
3,500 places where you could buy Krispy Kreme doughnuts disappeared in a single year — gas stations, grocery stores, and convenience shops all lost their deliveries The McDonald's partnership collapse meant 2,400 locations that had just started selling Krispy Kreme pulled them from the menu, confusing customers who'd barely gotten used to the option
Who owns Krispy Kreme?
Krispy Kreme is owned by JAB Holding Company, which acquired it in 2016.