Winston-Salem, NC-based Krispy Kreme Doughnuts has upped its ownership in franchisee Glazed Investments to 75% from 30%.
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In a press release issued yesterday [Wednesday], the fastfood doughnut giant did not disclose the amount paid for the stake, but said that it expects the acquisition to “modestly” add to earnings for the year ending next February.
Glazed Investments holds the rights to develop and operate company stores in Wisconsin, Minnesota and Colorado. Its management will retain the remaining 25% interest and CEO Larry Jaro will continue to oversee its day-to-day operations.
Krispy Kreme said that it is taking larger equity portions because of the success of its area developer franchise model.
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