Related Party Transactions |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Related Party Transactions | Related Party Transactions Investments in Unconsolidated Entities The following table summarizes the Company’s investments in unconsolidated entities:
(1)The Company held an equity interest in Insomnia Cookies as of December 29, 2024 subsequent to the divestiture of its controlling interest in Insomnia Cookies that occurred during the third quarter of fiscal 2024.The Company sold its remaining interest in Insomnia Cookies in the second quarter of fiscal 2025. As such, the Company did not hold an equity interest in Insomnia Cookies as of December 28, 2025. Refer to Note 3, Acquisitions and Divestitures, to the audited Consolidated Financial Statements for more information. (2)The Company holds a 33% equity interest in franchisee KK France, a 45% equity interest in franchisee KK Brazil, and a 25% equity interest in franchisee KK Spain as of December 28, 2025. The interests in KK Brazil and KK Spain were acquired during the second quarter of fiscal 2024. Refer to Note 3, Acquisitions and Divestitures, to the audited Consolidated Financial Statements for more information. Revenues from sales of ingredients and equipment to the equity method franchisees were $15.5 million, $11.9 million, and $9.5 million for the fiscal years ended December 28, 2025, December 29, 2024, and December 31, 2023, respectively. Royalty revenues from these franchisees were $1.7 million for the fiscal year ended December 28, 2025, and $1.6 million for both the fiscal years ended December 29, 2024, and December 31, 2023. Trade receivables from these franchisees are included in Accounts receivable, net on the Consolidated Balance Sheets. These transactions were conducted pursuant to franchise agreements, the terms of which are substantially the same as the agreements with unaffiliated franchisees. Refer to Note 4, Accounts Receivable, net, to the audited Consolidated Financial Statements for more information. Other Related Party Activity Keurig Dr Pepper Inc. (“KDP”), an affiliated company of JAB, licenses the Krispy Kreme trademark for the Company in the manufacturing of portion packs for the Keurig brewing system. KDP also sells beverage concentrates and packaged beverages to the Company for resale through Krispy Kreme shops. Licensing revenues from KDP were $2.1 million, $2.4 million, and $2.2 million for the fiscal years ended December 28, 2025, December 29, 2024, and December 31, 2023, respectively. The Company had service agreements with BDT Capital Partners, LLC (“BDT”), previously a greater than 5% stockholder of KKI, to provide advisory services to the Company, including valuation services related to certain acquisitions. No related costs were incurred for the fiscal year ended December 28, 2025 and December 31, 2023, respectively. The Company recognized expenses of $0.5 million related to the service agreements with BDT for the fiscal year ended December 29, 2024. The Company granted loans to employees of KKI, KK U.K., KK Australia, KK Mexico and Insomnia Cookies for the purchase of shares in those subsidiaries. The balance of these loans was $1.8 million and $1.9 million as of December 28, 2025 and December 29, 2024, respectively, and it is presented as a reduction from Shareholders’ equity on the Consolidated Balance Sheets.
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