Filing Details

Accession Number:
0001104659-23-120780
Form Type:
13D Filing
Publication Date:
2023-11-21 19:00:00
Filed By:
Jab Holdings B.v.
Company:
Krispy Kreme Inc.
Filing Date:
2023-11-22
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
JAB Indulgence B.V 74,885,435 74,885,435 74,885,435 44.42%
JAB Holdings B.V 74,885,435 74,885,435 74,885,435 44.42%
JAB Investments s. r.l 74,885,435 74,885,435 74,885,435 44.42%
JAB Holding Company S. r.l 74,885,435 74,885,435 74,885,435 44.42%
Joh. A. Benckiser B.V 74,885,435 74,885,435 74,885,435 44.42%
Agnaten SE 74,885,435 74,885,435 74,885,435 44.42%
Lucresca SE 74,885,435 74,885,435 74,885,435 44.42%
Filing

 

 

 

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

SCHEDULE 13D

(Amendment No. 10)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2(a)

 

Krispy Kreme, Inc.

(Name of Issuer)

 

Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)

 

50101L106
(CUSIP Number)

 

Joachim Creus
JAB Indulgence B.V.
Piet Heinkade 55
Amsterdam, 1019 GM

The Netherlands
Tel.: +31 202 355 000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

Copies to:

 

Paul T. Schnell, Esq.
Sean C. Doyle, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
One Manhattan West
New York, New York 10001
Tel.: (212) 735-3000

 

November 22, 2023
(Date of Event Which Requires Filing of This Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ¨.

 

 

 

 

 

CUSIP No. 50101L106  
1.

NAMES OF REPORTING PERSONS:

 

JAB Indulgence B.V.

 
2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

 

 
3.

SEC USE ONLY

 

 
4.

SOURCE OF FUNDS

 

OO (See Item 3)

 
5.

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):

 

¨
6.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Netherlands

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    SOLE VOTING POWER

 

         None
 

  8.    SHARED VOTING POWER

 

         74,885,435 (1) (see Items 4 and 5)
 

  9.    SOLE DISPOSITIVE POWER

 

         None
 

10.    SHARED DISPOSITIVE POWER

 

         74,885,435 (1) (see Items 4 and 5)
11.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

74,885,435 shares of Common Stock (1) (see Items 4 and 5)

 
12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨
13.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

 

44.42% of Common Stock (2) (see Item 5)

 
14.

TYPE OF REPORTING PERSON

 

HC

 

 

(1) This represents the aggregate voting and dispositive power of shares of common stock, par value $0.01 per share (the “Common Stock”) (the shares of Common Stock, each a “Share” and, collectively, the “Shares”), of Krispy Kreme, Inc. (the “Company”) that may be deemed to be beneficially owned by JAB Indulgence B.V. (“JAB Indulgence”).

 

(2) The percentage ownership is based upon 168,600,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of November 6, 2023, as set forth in the Quarterly Report on Form 10-Q (the “Latest Disclosure”), filed by the Company with the United States Securities and Exchange Commission on November 13, 2023.

 

 

 

CUSIP No. 50101L106  
1.

NAMES OF REPORTING PERSONS:

 

JAB Holdings B.V.

 
2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

 

 
3.

SEC USE ONLY

 

 
4.

SOURCE OF FUNDS

 

OO (See Item 3)

 
5.

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):

 

¨
6.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Netherlands

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    SOLE VOTING POWER

 

         None
 

  8.    SHARED VOTING POWER

 

         74,885,435 (1) (see Items 4 and 5)
 

  9.    SOLE DISPOSITIVE POWER

 

         None
 

10.    SHARED DISPOSITIVE POWER

 

         74,885,435 (1) (see Items 4 and 5)
11.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

74,885,435 shares of Common Stock (see Items 4 and 5)

 
12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨
13.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

 

44.42% of Common Stock (2) (see Item 5)

 
14.

TYPE OF REPORTING PERSON

 

HC

 

 

(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. JAB Holdings B.V. (“JAB Holdings”) may be deemed to have beneficial ownership of the shares held by JAB Indulgence since JAB Indulgence is a direct subsidiary of JAB Holdings. Neither the filing of this Statement on Schedule 13D (this “Statement”) nor any of its contents shall be deemed to constitute an admission by JAB Holdings that it is the beneficial owner of any of the Common Stock held by JAB Indulgence for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

 

(2) The percentage ownership is based upon 168,600,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of November 6, 2023, as set forth in the Latest Disclosure.

 

 

 

CUSIP No. 50101L106  
1.

NAMES OF REPORTING PERSONS:

 

JAB Investments s.à r.l.

 
2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

 

 
3.

SEC USE ONLY

 

 
4.

SOURCE OF FUNDS

 

OO (See Item 3)

 
5.

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):

 

¨
6.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Luxembourg

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    SOLE VOTING POWER

 

          None
 

  8.    SHARED VOTING POWER

 

          74,885,435 (1) (see Items 4 and 5)
 

  9.    SOLE DISPOSITIVE POWER

 

          None
 

10.    SHARED DISPOSITIVE POWER

 

          74,885,435 (1) (see Items 4 and 5)
11.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

74,885,435 shares of Common Stock (see Items 4 and 5)

 
12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨
13.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

 

44.42% of Common Stock (2) (see Item 5)

 
14.

TYPE OF REPORTING PERSON

 

HC

 

 

(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. JAB Investments S.à r.l. (“JAB Investments”) may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of JAB Investments. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by JAB Investments that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

 

(2) The percentage ownership is based upon 168,600,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of November 6, 2023, as set forth in the Latest Disclosure.

 

 

 

CUSIP No. 50101L106  
1.

NAMES OF REPORTING PERSONS:

 

JAB Holding Company S.à r.l.

 
2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

 

 
3.

SEC USE ONLY

 

 
4.

SOURCE OF FUNDS

 

OO (See Item 3)

 
5.

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):

 

¨
6.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Luxembourg

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    SOLE VOTING POWER

 

          None
 

  8.    SHARED VOTING POWER

 

          74,885,435 (1) (see Items 4 and 5)
 

  9.    SOLE DISPOSITIVE POWER

 

          None
 

10.    SHARED DISPOSITIVE POWER

 

          74,885,435 (1) (see Items 4 and 5)
11.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

74,885,435 shares of Common Stock (see Items 4 and 5)

 
12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨
13.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

 

44.42% of Common Stock (2) (see Item 5)

 
14.

TYPE OF REPORTING PERSON

 

HC

 

 

(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. JAB Holding Company S.à r.l. (“JAB Holding Company”) may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of JAB Holding Company. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by JAB Holding Company that it is the beneficial owner of any of the common stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

 

(2) The percentage ownership is based upon 168,600,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of November 6, 2023, as set forth in the Latest Disclosure.

 

 

 

CUSIP No. 50101L106  
  1.

NAMES OF REPORTING PERSONS:

 

Joh. A. Benckiser B.V.

 
  2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

 

 
  3.

SEC USE ONLY

 

 
  4.

SOURCE OF FUNDS

 

OO (See Item 3)

 
  5.

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):

 

¨
  6.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Netherlands

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    SOLE VOTING POWER

 

          None
 

  8.    SHARED VOTING POWER

 

          74,885,435 (1) (see Items 4 and 5)
 

  9.    SOLE DISPOSITIVE POWER

 

          None
 

10.    SHARED DISPOSITIVE POWER

 

          74,885,435 (1) (see Items 4 and 5)
11.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

74,885,435 shares of Common Stock (see Items 4 and 5)

 
12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨
13.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

 

44.42% of Common Stock (2) (see Item 5)

 
14.

TYPE OF REPORTING PERSON

 

HC

 

 

(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. Joh. A. Benckiser B.V. (“Joh. A. Benckiser”) may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of Joh. A. Benckiser. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by Joh. A. Benckiser that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

 

(2) The percentage ownership is based upon 168,600,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of November 6, 2023, as set forth in the Latest Disclosure.

 

 

 

CUSIP No. 50101L106  
1.

NAMES OF REPORTING PERSONS:

 

Agnaten SE

 
2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

 

 
3.

SEC USE ONLY

 

 
4.

SOURCE OF FUNDS

 

OO (See Item 3)

 
5.

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):

 

¨
6.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Luxembourg

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    SOLE VOTING POWER

 

          None
    8.    SHARED VOTING POWER

 

74,885,435 (1) (see Items 4 and 5) 

 

  9.    SOLE DISPOSITIVE POWER

 

          None
 

10.    SHARED DISPOSITIVE POWER

 

          74,885,435 (1) (see Items 4 and 5)
11.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

74,885,435 shares of Common Stock (see Items 4 and 5)

 
12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨
13.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

 

44.42% of Common Stock (2) (see Item 5)

 
14.

TYPE OF REPORTING PERSON

 

HC

 

 

(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. Agnaten SE (“Agnaten”) may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of Agnaten. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by Agnaten that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

 

(2) The percentage ownership is based upon 168,600,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of November 6, 2023, as set forth in the Latest Disclosure.

 

 

 

CUSIP No. 50101L106  
1.

NAMES OF REPORTING PERSONS:

 

Lucresca SE

 
2.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ¨

(b)  ¨

 

 
3.

SEC USE ONLY

 

 
4.

SOURCE OF FUNDS

 

OO (See Item 3)

 
5.

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):

 

¨
6.

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Luxembourg

 

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    SOLE VOTING POWER

 

         None
 

  8.    SHARED VOTING POWER

 

         74,885,435 (1) (see Items 4 and 5)
 

  9.    SOLE DISPOSITIVE POWER

 

         None
 

10.    SHARED DISPOSITIVE POWER

 

         74,885,435 (1) (see Items 4 and 5)
11.

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

74,885,435 shares of Common Stock (see Items 4 and 5)

 
12.

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

¨
13.

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

 

44.42% of Common Stock (2) (see Item 5)

 
14.

TYPE OF REPORTING PERSON

 

HC

 

 

(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. Lucresca SE (“Lucresca”) may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of Lucresca. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by Lucresca that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

 

(2) The percentage ownership is based upon 168,600,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of November 6, 2023, as set forth in the Latest Disclosure.

 

 

 

EXPLANATORY NOTE

 

This Amendment No. 10 amends and supplements the prior statement on Schedule 13D as filed on July 16, 2021, as amended by Amendment No. 1 filed on August 31, 2021, Amendment No. 2 filed on September 13, 2021, Amendment No. 3 filed on November 29, 2021, Amendment No. 4 filed on December 2, 2021, Amendment No. 5 filed on February 25, 2022, Amendment No. 6 filed on March 18, 2022, Amendment No. 7 filed on August 17, 2022, Amendment No. 8 filed on March 1, 2023 and Amendment No. 9 filed on August 11, 2023 (as so amended, the “Schedule 13D”), by (i) JAB Indulgence B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands (“JAB Indulgence”), (ii) JAB Holdings B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands, which is the parent company of JAB Indulgence (“JAB Holdings”), (iii) JAB Investments S.à r.l., a private limited liability company incorporated under the laws of Luxembourg, which is the parent company of JAB Holdings (“JAB Investments”), (iv) JAB Holding Company S.à r.l., a private limited liability company incorporated under the laws of Luxembourg, which is the parent company of JAB Investments (“JAB Holding Company”), (v) Joh. A. Benckiser B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands, which is a parent company of JAB Holding Company (“Joh. A. Benckiser”), (vi) Agnaten SE, a private company incorporated under the laws of Luxembourg, which is a parent company of Joh. A. Benckiser (“Agnaten”), and (vii) Lucresca SE, a private company incorporated under the laws of Luxembourg, which is a parent company of Joh. A. Benckiser (“Lucresca,” and together with JAB Indulgence, JAB Holdings, JAB Investments, JAB Holding Company, Joh. A. Benckiser and Agnaten, the “Reporting Persons”). Except as set forth herein, all items remain as previously reported in the Schedule 13D.

 

Item 4. Purpose of Transaction.

 

Item 4 is hereby amended and supplemented as follows:

 

Long Swap Arrangement

 

On November 22, 2023, JAB Holdings entered into a long cash-settled total return equity swap (the “Long Swap”) with HSBC Continental Europe (the “Dealer”). The Long Swap provides for the establishment of long exposure with respect to a notional amount of shares of common stock, par value $0.01 per share (the “Common Stock”) (the shares of Common Stock, each a “Share” and, collectively, the “Shares”), of Krispy Kreme, Inc. (the “Company”) up to the number of Shares purchased by the Dealer with an aggregate initial price not to exceed $100,000,000 (and not to exceed 7,500,000 Shares), over a term of approximately three years. The timing and amount of the establishment of specific Long Swap positions will be determined based on the initial hedges put in place by the Dealer in accordance with certain parameters of the Long Swap. As of the date hereof, excluding the Long Swaps described in Amendment No. 9 (which position has not yet been fully established) and this Amendment No. 10, JAB Holdings has long swap exposure with respect to a notional amount of 23,395,120 Shares.

 

Under the terms of the Long Swap (i) the Dealer will be obligated to pay in cash to JAB Holdings any positive price performance in the Common Stock from the reference price of Common Stock upon the establishment of the applicable Long Swap position (the “Applicable Reference Price”) with respect to the applicable notional amount of Shares and (ii) JAB Holdings will be obligated to pay in cash to the Dealer any negative price performance in the Common Stock from the Applicable Reference Price with respect to the applicable notional amount of Shares. Any cash dividends received by the Dealer on the notional number of Shares subject to a Long Swap position during the term thereof will be paid to JAB Holdings.

 

Under the terms of the Long Swap, all balances are to be exclusively settled in cash. The Long Swap has a term of approximately three years, although JAB Holdings has the right to terminate and close out the Long Swap during certain specified earlier periods if it so chooses. The Long Swap does not give JAB Holdings direct or indirect voting, investment or dispositive control over any securities of the Company or require the Dealer to acquire, hold, vote or dispose of any securities of the Company. Accordingly, JAB Holdings disclaims any beneficial ownership in securities that may be referenced in the Long Swap.

 

 

 

Item 5. Interest in Securities of the Issuer. 

 

Item 5 is hereby amended and supplemented as follows:

 

(a) – (b)  JAB Indulgence beneficially owns 74,885,435 Shares, which represents 44.42% of the issued and outstanding Shares as of November 6, 2023, as set forth in the Quarterly Report on Form 10-Q (the “Latest Disclosure”), filed by the Company with the United States Securities and Exchange Commission (the “Commission”) on November 13, 2023.

 

Each other Reporting Person may be deemed, for purposes of Rule 13d-3 under the Exchange Act, to share the power to vote or dispose, or to direct the voting or disposition of, the 74,885,435 Shares beneficially owned by JAB Indulgence. Therefore, for the purpose of Rule 13d-3, JAB Holdings, JAB Investments, JAB Holding Company, Joh. A. Benckiser, Agnaten and Lucresca may be deemed to be the beneficial owners of an aggregate of 74,885,435 Shares, which represents 44.42% of the issued and outstanding Shares as of November 6, 2023, as set forth in the Latest Disclosure.

 

As of the date hereof, Olivier Goudet may be deemed to be the beneficial owner of an aggregate of 2,087,812 Shares, which represents approximately 1.2% of the issued and outstanding Shares as of November 6, 2023, as set forth in the Latest Disclosure.

 

As of the date hereof, Peter Harf may be deemed to be the beneficial owner of 1,657,333 Shares, which represents approximately 1.0% of the issued and outstanding Shares as of November 6, 2023, as set forth in the Latest Disclosure.

 

As of the date hereof, Joachim Creus beneficially owns 41,186 Shares, which represents less than 0.1% of the issued and outstanding Shares as of November 6, 2023, as set forth in the Latest Disclosure.

 

As of the date hereof, Frank Engelen beneficially owns 19,846 Shares, which represents less than 0.1% of the issued and outstanding Shares as of November 6, 2023, as set forth in the Latest Disclosure.

 

Except as set forth in this Item 5(a), none of the Reporting Persons, and, to the best knowledge of the Reporting Persons, none of the persons named in Schedule A hereto beneficially owns any Shares.  Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission by the Reporting Persons that it is the beneficial owner of any Shares.

 

(c) None of the Reporting Persons, and to the best knowledge of the Reporting Persons, none of the persons named in Schedule A hereto, has effected any transactions in the Shares during the past 60 days.

 

(d) None of the Reporting Persons and, to the best knowledge of the Reporting Persons, none of the persons named in Schedule A hereto or any other person, and no other person, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities of the Company reported herein.

 

(e) Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

As described in Item 4 above, JAB Holdings entered into the Long Swap.

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: November 22, 2023

 

  JAB HOLDINGS B.V.
     
  By: /s/ Luuk Hoogeveen
  Name: Luuk Hoogeveen
  Title: Managing Director
     
  By: /s/ Frank Engelen
  Name: Frank Engelen     
  Title: Managing Director
     
 

JAB INDULGENCE B.V.

By: JAB Holdings B.V., its Managing Director

     
  By: /s/ Luuk Hoogeveen
  Name: Luuk Hoogeveen
  Title: Managing Director
     
  By: /s/ Frank Engelen
  Name: Frank Engelen
  Title: Managing Director
     
  JAB HOLDING COMPANY S.À r.l.
     
  By: /s/ Frank Engelen
  Name: Frank Engelen
  Title: Manager
     
  By: /s/ Joachim Creus
  Name: Joachim Creus
  Title: Manager
     
  JAB INVESTMENTS S.À R.L.
   
  By: /s/ Frank Engelen
  Name: Frank Engelen
  Title: Manager
     
  By: /s/ Philippe Chenu                  
  Name: Philippe Chenu
  Title:

Manager

 

  JOH. A. BENCKISER B.V.
     
  By: /s/ Joachim Creus
  Name: Joachim Creus
  Title: Managing Director
     

 

 

 

  By: /s/ Frank Engelen
  Name: Frank Engelen
  Title: Managing Director
     
  AGNATEN SE
  LUCRESCA SE
     
  By: /s/ Joachim Creus
  Name: Joachim Creus
  Title: Authorized Representative