Krispy Kreme Becomes Private Company After Sale to JAB Beech

Krispy Kreme Becomes Private Company After Sale to JAB Beech

Krispy Kreme Doughnuts will be acquired by JAB Beech in a deal valued at $1.35 billion, according to a USA Today article.

JAB Beech will pay $21 a share in cash for Krispy Kreme, a 25% premium over the company’s Friday’s closing stock price of $16.86.

The deal will turn Krispy Kreme into a private company and is expected to close in the third quarter this year.

The company’s 1,100 stores across the country will be continue to be operated independently.