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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Darden Restaurants CEO Rings NYSE Opening Bell
Photo: NYSE
The New York Stock Exchange welcomes Darden Restaurants, Inc. on May 30 to the podium. To honor the occasion, Rick Cardenas, President & Chief Executive Officer, joined by Lynn Martin, President, NYSE Group, rings the Opening Bell.
Darden Restaurants plans to release its fiscal 2025 fourth quarter financial results before the market opens on June 20, 2025, with a conference call to follow at 8:30 am ET. Cardenas and other senior management will discuss fourth quarter results and conduct a question and answer session.
This spring, Darden Restaurants and Uber Technologies, Inc. announced that Cheddar’s Scratch Kitchen is the next Darden brand to pilot on-demand delivery.
Cheddar’s is currently conducting the pilot in 10 restaurants, enabling guests to order delivery directly through the Cheddar’s website and app, while Uber Direct will handle deliveries through Uber’s national delivery network. Following the completion of a successful pilot, Cheddar’s plans to deploy it more broadly across their system.
“We have developed a strong partnership with the Uber Direct team,” said Chris Chang, Chief Information Officer at Darden. “We learned a lot from the initial pilot at Olive Garden, and that, combined with the success of the full rollout, gave us confidence to quickly move to piloting delivery at Cheddar’s.”
“The needs of restaurants are evolving more quickly than ever, and we’re focused on providing world-class solutions to meet those needs,” said Sarfraz Maredia, Vice President of Delivery, Head of Americas at Uber Eats. “We’ve heard excellent feedback from Olive Garden operators on the benefits and ease of integrating Uber Direct into their operations, and are confident our teams can deliver the same benefits for Cheddar’s operators, their team members, and guests.”
Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Ruth’s Chris Steak House, Cheddar’s Scratch Kitchen, The Capital Grille, Chuy’s, Seasons 52, Eddie V’s, and Bahama Breeze. For more information, visit www.darden.com.
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Performance Food Group Marks 10 Years on NYSE
Photo: NYSE
New York Stock Exchange welcomed Performance Food Group on May 27 to the podium to celebrate its 10th anniversary of listing. To honor the occasion, George Holm, Chairman & Chief Executive Officer, joined by Chris Taylor, Chief Development Officer, NYSE, rings The Closing Bell.
Performance Food Group Company recently announced the grand opening of its brand-new Grand Western Upper Midwest facility in West Salem, Wis. Formerly known as the La Crosse Meat Plant, this state-of-the-art facility represents a major milestone in advancing the region’s foodservice capabilities. Spanning 60,000 square feet—three times the size of its previous location—the new facility is designed for maximum efficiency and innovation.
“This new facility is a game-changer for our operations and customers,” said Tyler Zimmerman, General Manager of Grand Western Upper Midwest. “The increased capacity and advanced automation allow us to deliver the high-quality products our customers expect—more efficiently than ever before.”
Photo: NYSE
The expansion enables the facility to triple production. It also features a fully equipped kitchen and training center with space for up to 20 participants, supporting ongoing education and hands-on product training for both employees and customers. Grand Western Upper Midwest continues to source premium meats from trusted ranches and farms, offering a robust portfolio that includes PFG-brands such as Braveheart, Ranahan Ranch, Contigo, Allegiance, and Piancone brands across beef, pork, veal, and lamb categories.
With service to eight operating companies via next-day delivery—and extended distribution on weekly, bi-weekly, and monthly schedules—the facility also strengthens PFG’s PFA consolidation program, supporting 42 operating companies nationwide.
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