A majority ownership stake in Insomnia Cookies was acquired by Verlinvest and Mistral Equity Partners.
Details of the Insomnia Cookies Acquisition
Krispy Kreme sold its majority ownership stake in the popular cookie chain, Insomnia Cookies, to a partnership formed by two investment firms: Verlinvest and Mistral Equity Partners. This strategic sale allows Insomnia Cookies to continue its expansion and innovation under new leadership.
Key Parties and Transaction Overview
The acquisition involved several key entities, with the transaction valued at a significant sum.
Aspect | Detail |
---|---|
Buyer(s) | Verlinvest and Mistral Equity Partners |
Seller | Krispy Kreme |
Asset Sold | Majority ownership stake in Insomnia Cookies |
Transaction Value | $127.4 million |
This move represents a notable shift in ownership for the late-night cookie delivery service, aiming to further its market reach and operational efficiencies.
About Insomnia Cookies
Insomnia Cookies is a well-known bakery chain that specializes in delivering warm cookies, brownies, and other desserts, particularly during late-night hours. Founded to cater to the cravings of college students, it has grown significantly, establishing numerous locations across the United States. Its unique business model and strong brand loyalty have made it a distinctive player in the dessert market.
This acquisition by Verlinvest and Mistral Equity Partners is poised to support Insomnia Cookies in its next phase of development and growth.