Jammy deal sees doughnut business change hands

Crosstown Doughnuts, an artisan doughnut brand, has sold the bulk of its business to hospitality group Karali. The deal includes 27 operating locations as well as 140 staff, including the leadership team. Crosstown has been working with its advisers from Interpath Advisory to explore investment options that could support its continued operations and its future expansion. “We are delighted to start the next chapter for Crosstown,” said Crosstown chief executive Howard Ebison, who will continue to lead the business. “The Karali Group brings a wealth of experience and an exceptional track record growing hospitality brands. Their investment is testament to the strength of the Crosstown brand, the commitment of our teams and the loyalty of our customers.” Sam Birchall, head of Special Situations M&A at Interpath Advisory, which advised Crosstown, added: “The team at Crosstown has a great concept that has gained an enviable foothold in the market. This transaction will enable the team to build upon its network of retail outlets with the investment and support of Karali Snacks. We wish the team all the best for the future.”