JAB Beech, the company that owns Caribou Coffee, will acquire Krispy Kreme, JAB Beech officials announced Monday.
The Luxembourg-based investment firm, which also owns Keurig and shares in Einstein Bros. Bagels and high-end shoe retailer Jimmy Choo, purchased the doughnut company in a deal worth an estimated $1.35 billion.
A senior partner at JAB said that the acquisition is part of the company's strategy to invest in brands with "significant growth prospects," the Associated Press reported.
Krispy Kreme's stock rose $4.06, more than 24 percent, to $20.92 on Monday afternoon. JAB will pay for each share of Krispy Kreme Doughnuts Inc., with a plan to close the deal in the third quarter this year.
Krispy Kreme said in March that it planned to open at least 120 new international locations and about 30 new shops domestically.
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