The Wall Street Journal-20080206-Kuwaiti Group Increases Stake in Krispy Kreme

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Kuwaiti Group Increases Stake in Krispy Kreme

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A Kuwaiti contracting group run by the Al Kharafi family reported increasing its stake in Krispy Kreme Doughnuts Inc. to 13.8% from 11.3%, making it the largest shareholder of the doughnut chain. The Kuwaiti company, Mohamed Abdulmohsin Al Kharafi & Sons WLL, said it beneficially owns 9.06 million Krispy Kreme shares, according to a Securities and Exchange Commission filing. It also controls Krispy Kreme's Middle East franchisee . Mohamed Abdulmohsin held 7.3 million Krispy Kreme shares, or an 11.3% stake, as of June 18.