Press Release

Law firm Shoosmiths has advised Crosstown Doughnuts on the sale of its business to Karali, a diversified multinational hospitality and real estate platform that operates franchises in the fast-food, casual dining, and hospitality sectors.

The transaction encompasses the acquisition of 27 of the artisan doughnut and speciality coffee business’ operating locations, including most stores, market units, kiosks, concessions, and trucks, along with the transfer of 140 staff members, including the leadership team.

Shoosmiths worked closely with Interpath Advisory to deliver the outcome, with the Shoosmiths team led by corporate restructuring and advisory partner Sarah Teal together with partner Richard Bellamy, principal associate Hannah Gaskell, associate Sarah Minshull and trainee solicitor Jen Armstead.

Shoosmiths’ Sarah Teal said: “We are very pleased to have played a part in this pivotal moment for the Crosstown team. This achievement is thanks to many hours of dedicated collaborative work and it has been a pleasure working closely with Crosstown and their advisers at Interpath. We are confident that with the backing of Karali, the business will flourish.”

Sam Birchall, head of Special Situations M&A at Interpath Advisory, 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.”

Corporate is one of Shoosmiths’ key strategic pillars and the team has been named the most active law firm advising on M&A deals in the UK (according to Experian Market IQ reports). Across its corporate division, Shoosmiths’ team has bolstered its market leading credentials and reputation for excellence in the mid-market, advising on upwards of 400 transactions a year.