Krispy Kreme to Refranchise and Sell Japan Operations

Krispy Kreme ( (DNUT) ) just unveiled an announcement.

On December 18, 2025, Krispy Kreme Doughnut Corporation agreed to sell all shares of its Japanese subsidiary, Krispy Kreme Doughnut Japan Co. Ltd., to Lei Inc., a special purpose vehicle formed by a fund of Japan-based private equity firm Unison Capital, in a deal valuing the unit based on its 2025 Adjusted EBITDA and expected to generate roughly $65 million in cash proceeds after customary adjustments. The transaction, which Krispy Kreme announced publicly on December 19, 2025 and expects to close in the first quarter of 2026 subject to standard conditions, forms the company’s first international refranchising move under its August turnaround plan, shifting its Japan operations to a franchise model under a new development and franchise agreement with Unison, and is intended to advance its refranchising strategy, strengthen financial flexibility, and reduce debt while preserving and potentially expanding the brand’s 89-store, 300-point presence in the Japanese market.

The most recent analyst rating on (DNUT) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Krispy Kreme stock, see the DNUT Stock Forecast page.

Spark’s Take on DNUT Stock

According to Spark, TipRanks’ AI Analyst, DNUT is a Neutral.

Krispy Kreme’s overall stock score reflects significant financial challenges, with declining revenues and profitability being the most critical factors. Despite these issues, technical indicators show some short-term bullish momentum, and the earnings call provided positive insights into the company’s turnaround efforts. The valuation remains a concern due to negative earnings, but the dividend yield offers some investor appeal. The company’s strategic initiatives and international growth provide a slightly positive outlook, but substantial improvements are needed for a stronger financial position.

To see Spark’s full report on DNUT stock, click here.

More about Krispy Kreme

Krispy Kreme, Inc., headquartered in Charlotte, North Carolina, is a global sweet-treat company best known for its Original Glazed doughnuts and operates in more than 40 countries through a network of fresh doughnut shops, retail partnerships, and a growing digital business, with a focus on branded doughnut and sweet snack offerings.

Average Trading Volume: 7,561,847

Technical Sentiment Signal: Hold

Current Market Cap: $764M

For detailed information about DNUT stock, go to TipRanks’ Stock Analysis page.