A European breakfast food conglomerate found just the right pastry to go with their coffee holdings: Krispy Kreme Doughnuts.
According to the New York times, Krispy Kreme, and its “Hot Doughnuts Now” signs, agreed to be acquired by JAB Holding Company (owned by a German billionaire family), along with a minority investor, BDT Capital Partners, for $1.35 billion.
JAB also owns Peet’s Coffee and Tea, Keurig Coffee and Caribou Coffee, among other companies.
Krispy Kreme, based in Winston Salem, N.C., has been known to hypnotize patrons at their Ponce de Leon store, as they watch fluffy rings of dough float across a lake of boiling oil and under a waterfall of sugary glaze.
The doughnut giant went public in the year 2000, and stock initially rose like dough in the proofing cabinet, expanding to $50 a share, before shrinking back to below its initial public offering price of $21.
According to the Times the company would be taken back under private control by the deal, and would continue being controlled from the Winston-Salem headquarters.
If the deal is consummated, the citizens of Berlin will discover that a hot glazed will beat a Berliner any time.
Support real journalism. Support local journalism. Subscribe to The Atlanta Journal-Constitution today. See offers.
Your subscription to the Atlanta Journal-Constitution funds in-depth reporting and investigations that keep you informed. Thank you for supporting real journalism.