Yes, Krispy Kreme, Inc. has announced the sale of a majority ownership stake in Insomnia Cookies.
Krispy Kreme Divests Majority Stake in Insomnia Cookies
On July 22, 2024, Krispy Kreme, Inc., a publicly traded company, officially announced the sale of a significant portion of its ownership in Insomnia Cookies. This strategic move means Krispy Kreme no longer holds a majority stake in the popular late-night cookie delivery chain.
The transaction highlights a substantial increase in the value of Insomnia Cookies since its acquisition by Krispy Kreme. The sale was executed based on a total enterprise value of $350 million for Insomnia Cookies. This figure represents double the value at which Krispy Kreme originally purchased the company in 2018.
Here’s a snapshot of the key details regarding the sale:
| Aspect | Detail |
|---|---|
| Announcement Date | July 22, 2024 |
| Stake Sold | Majority Ownership Stake |
| Total Enterprise Value | $350 Million |
| Value Appreciation | Double the 2018 acquisition price |
This divestiture allows Krispy Kreme to streamline its portfolio while realizing significant returns on its investment in Insomnia Cookies.
For more information on the strategic decision behind this sale, you can refer to insights from industry analyses such as those found on Success.com.
