• The CEO & CFO wanted to buyout a minority shareholder and retain majority ownership.
• Our capital (1) bought out the minority shareholder; (2) allowed the CEO & CFO to retain control; (3) refinanced existing debt; (4) removed personal guarantees; and (5) provided flexible debt to allow company to expand.

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• QSR Growth – quick service restaurants are a fast-growing segment of the restaurant industry
• Strong Differentiated Brand – consumer survey ranked Krispy Kreme as the “Most Craveable Food”
• Strong Management – CEO & CFO had significant applicable experience and ownership.  Additionally, the CEO was the president of the Krispy Kreme Franchisee Association
• Proven & Compelling Unit Economics – cash on cash returns for new stores exceeded industry average

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• Real Estate – introduced management to a real estate broker to identify potential sites
• Expanded – increased store count by 40% throughout Texas‍
• Successful Sale to Strategic – sought approval to open sites outside of our territory which led to a successful sale to the franchisor