Duck Donuts, the popular doughnut chain that originated in the town of Duck on the Outer Banks, has a new owner.
NewSpring, a company based out of Radnor, Pa., announced on April 14 the purchase of Duck Donuts. Free Fenix, a company based out of Charlotte, N.C., partnered with NewSpring on the deal.
Duck Donuts, one of the country’s fastest-growing doughnut franchise businesses, first opened in Duck, N.C. in 2007. Russ DiGilio is the founder and original CEO of the company.
Duck Donuts currently has one international location and 101 other franchise locations across the U.S. in 21 states. Locally, there is one Duck Donuts location on the Peninsula in Williamsburg and several on the Southside in Chesapeake, Suffolk, Norfolk, and Virginia Beach. All the local Duck Donuts will continue to be locally owned and operated.
“Duck Donuts could not be more excited to partner with the NewSpring team, who offers a wealth of knowledge and experience that will elevate our brand to the next level,” DiGilio said in a statement. “The past 14 years have been an amazing journey and we wouldn’t be where we are today without the dedication, passion, and trust of our franchisees and corporate team members. I look forward to watching the brand continue to evolve and build on the success we have already achieved in such a short period.”
