Krispy Kreme Doughnuts to Be Bought by JAB in $1.35 Billion Deal
Krispy Kreme Doughnuts agreed to be acquired by a JAB Holding subsidiary in a $1.35 billion deal.
Investors in the coffee-and-doughnut chain will receive $21 a share in cash, North Carolina-based Krispy Kreme said Monday in a statement. That represents a 25 per cent premium over the stock’s closing price on Friday.
The deal gives JAB another piece to add to its rapidly growing coffee empire. The closely held investment firm, which manages the fortune of Austria’s billionaire Reimann family, has spent more than $30 billion in the past four years acquiring coffee companies in the U.S. and Europe to challenge global leader Nestle SA.
Krispy Kreme shares, which had risen 12 per cent this year through last week, were halted while the news was announced.
Krispy Kreme entered the UK market last year, but as of yet has not released any plans to do similar in Ireland.
News by Bloomberg, edited by Hospitality Ireland