Jones Day lined up opposite Macfarlanes and Shoosmiths advising on the £25m acquisition of the UK business of Krispy Kreme by private equity house Alcuin Capital Partners.
The transaction sees Alcuin, which already has an investment in Caffè Nero, take control of the doughnut retailer’s British arm, previously owned by investment group Cheshire and Kent.
The UK business is run by entrepreneurs Haven Burke, Dick Clark and Edward Fishman, who founded the company in the UK eight years ago following a franchise deal with the US food giant.
Krispy Kreme UK managing directors Richard Cheshire and Rob Hunt obtain a larger shareholding as part of the deal.
Macfarlanes partners Charles Meek and Jeremy Courtenay-Stamp acted for Cheshire and Kent, a longstanding client thanks to the relationship between the company and Courtenay-Stamp, the main partner on the account.
Alcuin turned to Jones Day corporate partner Adam Greaves. He was assisted by corporate associate Liam Bonamy and banking associate Emily Firn.
Greaves has advised Alcuin since its inception in 2002 and enjoys a longstanding relationship with Alcuin partner Mark Storey, who has been appointed chairman of Krispy Kreme UK following the deal.
Greaves advised BancBoston Capital before Storey left to found Alcuin, which Jones Day continues to act for.
Shoosmiths advised the Krispy Kreme management, fielding a team led by corporate partners Emma Gibson and corporate finance partner Sean Wright.