Sweet Deal Alert! Krispy Kreme Offloads Insomnia Cookies Stake for $350M, Focuses on Fresh Doughnuts
Portfolio Pulse from Shivani Kumaresan
Krispy Kreme (NASDAQ:DNUT) has sold a majority stake in Insomnia Cookies for $350 million, allowing it to focus on its core doughnut business. The sale strengthens Krispy Kreme's financial position and supports its expansion and debt reduction efforts. DNUT shares are trading higher in premarket.
July 22, 2024 | 12:42 pm
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Krispy Kreme has sold a majority stake in Insomnia Cookies for $350 million, which will allow it to focus on its core doughnut business and strengthen its financial position. The sale proceeds will support business expansion and debt reduction efforts. DNUT shares are trading higher in premarket.
The sale of the majority stake in Insomnia Cookies for $350 million provides Krispy Kreme with significant capital to focus on its core business and reduce debt. This strategic move is likely to be viewed positively by investors, as evidenced by the premarket increase in DNUT shares.
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