JAB-backed doughnut chain to acquire cookie-delivery brand, report says
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Krispy Kreme Doughnuts is reportedly nearing an acquisition of the Insomnia Cookie delivery company, according to CNBC.
The Winston-Salem, N.C.-based Krispy Kreme, which was acquired by European investment company JAB Holding Co. in 2016, would expand its treats line with the addition of New York City-based Insomnia Cookies, which deliveries late night until 3 a.m. from its nearly 140 locations, most of which are near college campuses.
“JAB indeed has no comment on the report,” a spokesman for JAB said via email.
Krispy Kreme and Insomnia had not responded by press time.
JAB Holding Co. has been actively building its restaurant portfolio in recent years. The company acquired Krispy Kreme Doughnuts Inc. for $1.35 billion in 2016 and last year acquired Panera Bread Co. in $7.5 billion deal last year. JAB also owns Einstein Noah and its Peet’s Coffee & Tea and Caribou Coffee divisions as well as other food brands like Keurig Green Mountain coffee.
The Insomnia acquisition, according to CNBC sources, would value the cookie company at about $500 million. Sources said it could be announced within a few weeks.
“The sources, who cautioned a deal could still fall apart, requested anonymity because the information is confidential,” CNBC said.
Insomnia Cookies is a chain of bakeries that specializes in delivering warm cookies and cold milk. It was founded 2003 by Seth Berkowitz, then a student at the University of Pennsylvania.
Krispy Kreme has about 1,400 locations in 32 countries, and specializes in doughnuts and coffee.
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