Krispy Kreme Sells Remaining Stake in Insomnia Cookies

Krispy Kreme, Inc.,  announced the sale of its remaining stake in Insomnia Cookies Holdings, LLC to Insomnia Cookies and certain existing shareholders involved in the July 17, 2024, sale of the company’s majority ownership stake.

Krispy Kreme received aggregate cash proceeds of $75 million from the transaction, which is expected to be used for debt pay down after transaction-related fees and expenses.

“We continue to take swift, decisive action to de-leverage our balance sheet and drive sustainable, profitable growth,” said Krispy Kreme CEO, Josh Charlesworth. “This is an important step as we focus on our two biggest opportunities: profitable U.S. expansion and capital-light international franchise growth. We wish Insomnia Cookies and their ownership group well as they work to realize the full potential of this unique brand.”

Headquartered in Charlotte, N.C., Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world. Our iconic Original Glazed® doughnut is universally recognized for its hot-off-the-line, melt-in-your-mouth experience. The company operates in more than 40 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing digital business with more than 17,500 fresh points of access. Our purpose of touching and enhancing lives through the joy that is Krispy Kreme guides how we operate every day and is reflected in the love we have for our people, our communities, and the planet. Connect with the company at KrispyKreme.com and follow us on social: X, Instagram and Facebook.

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