Krispy Kreme Sells Majority Stake In Insomnia Cookies, Receives $127.4M Now, Additional $45M Expected Soon
Portfolio Pulse from Benzinga Newsdesk
Krispy Kreme, Inc. (NASDAQ:DNUT) has sold a majority stake in Insomnia Cookies to Verlinvest and Mistral Equity Partners for a total enterprise value of $350 million, which has doubled since its 2018 acquisition. Krispy Kreme received $127.4 million immediately and expects an additional $45 million soon.

July 22, 2024 | 10:53 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Krispy Kreme has sold a majority stake in Insomnia Cookies for $350 million, doubling its value since 2018. The company received $127.4 million immediately and expects an additional $45 million soon.
The sale of a majority stake in Insomnia Cookies for $350 million, which has doubled in value since 2018, provides Krispy Kreme with immediate liquidity of $127.4 million and an additional $45 million expected soon. This transaction is likely to positively impact Krispy Kreme's stock price in the short term due to the significant cash inflow and the successful appreciation of the asset's value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100