Krispy Kreme gobbled up for $1.35B

krispy kreme coffee donuts

Krispy Kreme Doughnuts has agreed to be acquired for $1.35 billion by the German investment company that controls Peets Coffee & Tea, Caribou Coffee and the Einstein Brothers and Noah’s bagel chains.

The deal will add another food component to the sprawling breakfast portfolio of JAB Holding Co., whose most visible acquisition may have been its purchase last year of a controlling interest in Keurig Green Mountain, the coffee dispenser company, for about $13.9 billion.

JAB agreed to pay $21 a share for Krispy, or about a 25 percent premium over the doughnut chain’s closing stock price on Friday, according to the brand’s management.

Krispy Kreme said the deal has been approved by its board of directors. The company said it will operate as a separate company within the portfolio of JAB and will remain headquartered in Winston-Salem, N.C.

JAB holds a majority stake in a number of companies whose products are usually associated with breakfast. In addition to the Peets, Caribou, Einstein Brothers and Noah’s chains, it is the principal owner of Mighty Tea Leaf, Intelligentsia Coffee & Tea, Stumptown Coffee, Espresso House and Baresso Coffee.

It is also an investor in the Jimmy Choo luxury shoe company.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Food

Why Piada Italian Street Food developed its newest item to fit a to-go bag

Behind the Menu: The fast casual’s signature Piada Sticks didn’t travel well, but they inspired the idea for the more compact Piada Pockets, available now in three flavors.

Emerging Brands

Dué Cucina aims to prove the scalability of fresh pasta

Buzzworthy Brands: In the fast-casual world, truly authentic Italian cuisine is hard to find. These two friends from Tuscany have cracked the code.

Technology

Yum and Nvidia just raised the stakes for restaurant AI

Tech Check: The parent of Taco Bell and Pizza Hut already had big plans for AI. Now it has Nvidia's scale and resources to help make them happen.

Trending

More from our partners