U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Krispy Kreme Inc. announced it is considering the sale of its Insomnia Cookies brand. If this plan pushes through, the company will arrange for an all-cash sale of its majority stake in the US-based chain of bakeries.
Krispy Kreme said it is still at the point of exploring all alternatives, including the unloading of its stake in Insomnia Cookies. The main reason for this is that it would like to direct most of its focus on selling donuts, which is its core business, to begin with.
Krispy Kreme’s Takeover of Insomnia Cookies
In 2021, Krispy Kreme went public for the second time with a valuation of about $2.7 billion at that time. It was in 2000 when it went public for the first time but was taken private when JAB Holding purchased it in 2016.
According to CNBC, the donut and coffeehouse chain acquired a controlling stake in Insomnia Cookies two years after going private. The company bought the cookie firm for less than $500 million.
After the acquisition of a majority stake, the firm expected high profits, and in fact, its expectation for the fiscal year 2023 is about $230 million. Krispy Kreme said that its decision to consider the sale of insomnia Cookies will allow it to unlock shareholder value as well as shift its focus on the production, selling, and distribution of fresh donut products daily.
The Sale of Insomnia Cookies
Fox Business reported that the cookie bakery chain is currently operating more than 250 store outlets across three countries. Krispy Kreme hired Evercore and Morgan Stanley to serve as its financial advisers on the acquisition deal.
“We acquired a majority stake in Insomnia Cookies to build our e-commerce and digital capability as well as assist Insomnia’s U.S. and International expansion,” Krispy Kreme chief executive officer, Mike Tattersfield, said in a press release. “Both efforts have been successful and it’s time for the next strategic step for both companies.”
He further stated, “Krispy Kreme has expanded rapidly through our capital light omnichannel model, and the brand is now in 37 countries selling fresh doughnuts through nearly 13,000 points of access daily. Looking ahead, our goal is to expand to more than 75,000 points both by entering 3-5 new countries each year and developing new channels like quick service restaurants.”
Photo by: Alex Haney/Unsplash
