Two corporate-law specialist law firms have acted on the Krispy Kreme Doughnut Corporation’s acquisition of the Krispy Kreme Australia and New Zealand franchise business.
Arnold Bloch Leibler (ABL) advised the Winston-Salem, North Carolina-based parent company, which has acquired the business save for the South Australian franchise, which is owned and operated independently by the Peregrine Corporation. McCullough Robertson acted for the founding shareholders of the Krispy Kreme Australia and New Zealand franchise business.
Financial details of the deal remain confidential.
The acquisition is the next logical step in Krispy Kreme’s push to extend ownership of its brand in high-growth markets, said Niren Chaudhary, COO and president of international for the Krispy Kreme Doughnut Corporation.
“Over the past four years, Krispy Kreme Australia has delivered double-digit revenue growth driven by a strategic retail expansion in both Australia and New Zealand, and built brand relevance through innovative retail partnerships, interesting shop designs, menu innovation and digital marketing. There are significant opportunities for further growth in the Australian region and we will continue building upon our momentum and expanding into new markets,” he said.
Corporate and M&A partner Jeremy Leibler, who led the firm’s team, said that ABL provided advice from across the firm’s practice areas. Leibler was assisted by senior associate Gavin Hammerschlag, lawyer Luke Jedynak, and law graduate Jessica Spring.
ABL special counsel Bridget Little and senior associate Rachel Soh advised on employment matters. Partner Clint Harding and lawyer Peter Scott provided tax advice. Senior associates Gia Cari and Krystal Pellow and lawyer Rob Deev assisted with property matters.
McCulllough Robertson’s team includes partner Adrian Smith and senior associate Christian Baldock.