BNP Paribas Holds 8.7% Of Krispy Kreme Without Seeking To Influence Control
The France-registered bank reported more than 15 million shares as Krispy Kreme faces litigation over its failed McDonald's rollout.
BNP Paribas reported an 8.7% passive stake in Krispy Kreme, which makes and sells doughnuts, in an SEC ownership filing Tuesday. The France-registered bank certified that its holding arose from ordinary business activity rather than an effort to change or influence control.
More Than 15 Million Shares
BNP Paribas reported beneficial ownership of 15,094,524.5 shares, with sole authority to vote them and decide whether to sell them. The disclosure used September 30, 2026 as its event date, and the percentage applies to Krispy Kreme's common-stock class on the filing's beneficial-ownership basis.
Krispy Kreme had a market value of $699 million as of 5:39 p.m. ET Tuesday. The bank's certification describes a passive holding, not a campaign for control.
The McDonald's Rollout And The Lawsuit
The ownership report comes against a backdrop of losses tied to Krispy Kreme's McDonald's partnership. Schubert Jonckheer & Kolbe's investor alert described a 35% stock decline in February 2025 following weak demand and delivery problems, and a 37% decline in May 2025 when expansion stalled. The partnership ended in June 2025.
Investors allege that Krispy Kreme, its CEO and its former CFO misrepresented the rollout's costs and success despite operational problems. On August 26, 2026, U.S. District Judge Max O. Cogburn, Jr. allowed key securities-fraud claims to continue, finding that the complaint adequately alleged statements made knowingly or with deliberate recklessness. That ruling allowed the claims to proceed; the alleged misconduct remains an allegation.
A Doughnut Network Across 42 Countries
Krispy Kreme sells its Original Glazed and other doughnuts through shops, retail partners and online pickup or delivery orders. Factories and doughnut-making shops supply smaller shops, grocery stores and convenience stores.
Its U.S. and International segments cover company-owned operations, while Market Development covers global franchises. Beyond selling doughnuts, the company collects franchise fees and royalties and sells ingredients and equipment to franchisees.
According to its annual report for the fiscal year ended December 28, 2025, Krispy Kreme operated in 42 countries and had 15,194 places where consumers could buy its doughnuts as of that date.
