Krispy Kreme has said that it has confidentially filed with US regulators for an initial public offering (IPO), a move that would result in the donut chain's return to the stock market five years after it was taken private.
Chapter 11 Bankruptcy
The company first went public in 2000, but it had to file for Chapter 11 bankruptcy following financial restatements, investigations into its accounting practices and a plunge in sales at some of its franchisees.
Bought By JAB Holding Co
It was bought by privately owned JAB Holding Co in a $1.35 billion deal in 2016 when the investment firm was ramping up its bets on coffee and restaurant businesses.
Historic Boom In US Capital Markets
The donut chain's move would help it tap into a historic boom in US capital markets, with companies raising $167 billion in 2020, according to Dealogic data, a record that investment bankers expect will be surpassed this year.
A Time When Demand Is Rising For Snacks And Sweets
It also comes at a time when demand is rising for snacks and sweets from customers craving familiar treats while staying at home due to COVID-19 restrictions.
Free Glazed Donuts Promotion
As a part of a promotion earlier this year, the company gave away free glazed doughnuts to anyone who showed a valid COVID-19 vaccination card at a Krispy Kreme store in the US.
Krispy Kreme Information
Known for its glazed sugary treats, Krispy Kreme opened its first store in North Carolina in 1937 when it started selling donuts in local grocery stores. It now sells its treats in 12,000 grocery and convenience stores in the US and operates nearly 1,400 shops in 33 countries.
Dunkin' Brands
Rival Dunkin' Brands was taken private last year by the owner of Arby's and Sonic Drive-In, Inspire Brands, for $8.76 billion.
News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.
