Freeths advises Karali Group on acquisition of Crosstown Doughnuts
The national law firm has successfully advised Karali Snacks, a subsidiary of the Karali Group, on its strategic acquisition of Crosstown Doughnuts, an esteemed brand known for artisan doughnuts, ice cream, and speciality coffee
This transaction marks a significant expansion for Karali Snacks, incorporating 27 Crosstown locations, which include stores, market units, kiosks, concessions, and trucks.
Karali Group, a long-standing, multinational entity in the hospitality and real estate sectors, continues to diversify its portfolio through this acquisition. The transition will see Crosstown’s leadership team and 140 staff members join Karali, with CEO Howard Ebison continuing to lead the business. This move aligns with Karali Group's broader investment strategy, spanning retail, consumer, leisure, and real estate sectors.
The legal guidance from Freeths was spearheaded by Iain Bowler, National Head of Commercial, and Miles Hacking, Restructuring and Insolvency Director, supported by a multi-disciplinary team including Real Estate Partner Lucy Bradban.
Iain Bowler expressed enthusiasm about the collaboration: “We’re delighted to have acted on behalf of the Karali Group on the acquisition of Crosstown Doughnuts and wish them every success with the development of this exciting new venture. This deal continues the business’s innovation strategy in the bakery sector and with the experience of the Karali Group behind it, there is no doubt that Crosstown Doughnuts will go from strength to strength.”
Karim Janmohamed of Karali Group extended his appreciation to the Freeths team for their professionalism and dedication: “We extend our heartfelt appreciation to Iain, Miles, Lucy, and the entire Freeths team for their professionalism and drive to get the transaction executed. We are excited about the future of the Crosstown brand and thrilled to be associated with a brand that exemplifies excellence in the sector.”
This acquisition underscores Karali Group's commitment to expanding its investment footprint and enhancing its presence in the retail and consumer markets.