CHARLOTTE — Krispy Kreme’s turnaround gained momentum in March, buoyed by two transactions that generated $120 million in cash to pay down debt.
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The Charlotte-based doughnut chain (NASDAQ: DNUT) on Monday finalized a deal with WKS Restaurant Group valued at approximately $90 million, including roughly $50 million in cash proceeds. On March 2, Unison Capital Inc. closed its purchase of Krispy Kreme’s operations in Japan, generating nearly $70 million in cash.
Krispy Kreme is focused on deleveraging its balance sheet while driving sustainable, profitable growth, CEO Josh Charlesworth said during the company’s February earnings call.
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