JAB-owned Krispy Kreme has acquired a majority stake in US cookie delivery company Insomnia Cookies as it aims to expand beyond its signature glazed doughnuts.
Krispy Kreme, which was bought by JAB Holding Company in 2016, said it was drawn to Insomnia’s “innovative” delivery service. The firm also sells brownies, ice cream and milk.
Founded in 2003 by Seth Berkowitz while he was studying at the University of Pennsylvania, Insomnia Cookies now has 135 cookie shops in the US.
The deal sees JAB expand its foodservice empire, which also includes Peet’s Coffee, Pret A Manger and Panera Bread Company.
Krispy Kreme Doughnuts CEO Mike Tattersfield said: “At Krispy Kreme, we have an 81-year heritage of creating the most awesome doughnut experience imaginable, and today we are delighted to add Insomnia Cookies, a rapidly growing business with an innovative delivery experience and exceptional product that is beloved by consumers.
“While our companies will continue to operate independently, these two great brands can learn a great deal from each other as we each continue to expand and grow.”
Seth Berkowitz, founder of Insomnia Cookies, added: “Mike and I share the same ambition for our brands: to be the best at what we do and delight consumers with the highest quality sweet treat experiences.
“My team and I are confident that this shared vision makes Krispy Kreme the ideal partner to support Insomnia through our next phase of growth. We are thrilled to be joining the Krispy Kreme family.”
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