JAB buys Krispy Kreme

Private equity firm JAB Holding has bought US doughnut chain Krispy Kreme for US$1.35 billion This deal is just the latest addition to JAB’s rapidly growing portfolio of food and beverage companies. The Krispy Kreme deal comes on the back of JAB’s purchase of major coffee businesses such as Douwe Egberts Master Blenders, Peet’s Coffee and Tea and Keurig Green Mountain in recent years. While Krispy Kreme is best known for its doughnuts, the company is also a significant retailer of coffee, both in store and through its own branded lines of supermarket products. Tony Thompson, CEO of Krispy Kreme, commented, “JAB’s experience and industry knowledge make them the ideal partner to help grow the iconic Krispy Kreme brand throughout the world,” said CEO of Krispy Kreme, Tony Thompson, in a statement. Peter Harf, Senior Partner at JAB, said: “We are thrilled to have such an iconic brand as Krispy Kreme joining the JAB portfolio . . . We feel strongly that Krispy Kreme will benefit greatly from our long-term focus and support for management’s vision in building on the legacy of this exciting brand as an independent standalone entity.” Krispy Kreme has more than 1,100 shops in more than 26 countries and coffee is a key part of its business, with a strong in-store program as well as lines of Krispy Kreme-branded K-Cups, roast and ground coffee, and ready-to-drink iced coffee products.