Krispy Kreme Doughnuts Inc., Winston-Salem, NC, and JAB Beech Inc., a subsidiary of JAB Holding Co., announced on May 9 that they have entered into a definitive merger agreement under which JAB Beech will acquire Krispy Kreme for approximately $1.35 billion. The agreement was unanimously approved by Krispy Kreme’s board of directors.
At the close of the transaction, which is expected to occur in the third quarter of 2016, Krispy Kreme will be privately owned and continue to be independently operated from Krispy Kreme’s current headquarters in Winston-Salem. “For nearly 80 years, our iconic brand has been touching and enhancing lives through the joy that is Krispy Kreme,” says Jim Morgan, chairman of Krispy Kreme’s board of directors. “This transaction puts us in the best possible position to continue to spread that joy to a growing number of people around the world, while delivering significant value to Krispy Kreme shareholders. I am confident the JAB team is the right partner with whom to continue building upon our incredible legacy.”