The Company maintains agreements with its joint venture partners who hold noncontrolling interests in the Company’s consolidated subsidiaries W.K.S. Krispy Kreme and KK Canada, which include contractual put options. The put options, held by the noncontrolling joint venture partners, provide the right for each such partner to sell its remaining interest in W.K.S. Krispy Kreme and KK Canada to the Company based on a predetermined formula. The put options become exercisable upon the passage of time.

The noncontrolling interests are considered redeemable due to the existence of the put options as (i) the noncontrolling joint venture partners can put their shares of W.K.S. Krispy Kreme and KK Canada to the Company, (ii) the put is outside the Company’s control; and (iii) it is probable of becoming redeemable solely based on the passage of time. The put options cannot be separated from the noncontrolling interest and did not require bifurcation from the noncontrolling interest under the guidance in ASC 815.

The noncontrolling interest is classified as redeemable noncontrolling interest within Mezzanine equity on the Consolidated Balance Sheets. When redeemable noncontrolling interest becomes redeemable, or it is probable of becoming redeemable, its value is adjusted to the greater of the current redemption value or carrying value. The redemption value is remeasured on a quarterly basis based on the predetermined formula set forth in the Company’s agreements with the joint venture partners.


	As of
	December 28, 2025
Balance as of December 29, 2024	$	27,297
Net loss attributable to redeemable noncontrolling interest	(8,129)
Accretion to redemption value	4,290
Foreign currency impact	723
Balance at December 28, 2025	$	24,181