Is Krispy Kreme's Empire About to Get Much, Much Bigger?
This could be huge for the North Carolina-based doughnuts chain.
Love doughnuts? We're guessing there's a 97.3% chance you also love cookies. Especially when flavors range from snickerdoodle to white chocolate macadamia and look as good as these:
Well, good news may be on the horizon, sweets enthusiasts. JAB Holding Company, which bought Winston-Salem-based Krispy Kreme in 2016 for $1.35 billion, is said to be working on a deal to acquire Insomnia Cookies. "Krispy Kreme Doughnut is nearing a deal to acquire Insomnia Cookies in a move that would help the coffee and doughnut chain move beyond the glazed treats for which it is known, sources familiar with the situation tell CNBC," a recent article on CNBC reports. Sources say the deal could be signed and announced within the coming weeks and values Insomnia Cookies at less than $500 million.
The desserts chain, currently in the majority of American states — including every Southern state — is known for staying open for delivery until 3:00am to satiate late-night cookies cravings. In fact, the company was born out of a college dorm room at the University of Pennsylvania for that very reason in 2003.
WATCH: The Krispy Kreme Panini
So what could this acquisition mean for doughnut lovers? "Buying Insomnia Cookies would help Krispy Kreme reach more diners than its doughnut loyalists, as well as provide new delivery infrastructure," writes CNBC's Lauren Hirsch. "There also could be opportunities to bundle the two products together, for example selling a day-old doughnut at a discount alongside an Insomnia Cookie." Our minds have already wandered to a glazed doughnut-cookie mash-up...
Well, we don't know about you, but we sure could go for washing down the news with a tall glass of milk and a deep-dish chocolate chip skillet cookie right about now.