American doughnut company Krispy Kreme debuts its 1st redesigned store with new menu items

Krispy Kreme, Inc. has completed the sale of its remaining stake in Insomnia Cookies Holdings, LLC to Insomnia Cookies and a group of existing shareholders who were also part of the majority stake transaction announced on July 17, 2024.

The deal brought in total cash proceeds of $75 million for Krispy Kreme. The company stated that these funds will be directed toward reducing debt, net of associated fees and transaction costs.

Josh Charlesworth, CEO of Krispy Kreme said, “We continue to take swift, decisive action to de-leverage our balance sheet and drive sustainable, profitable growth. This is an important step as we focus on our two biggest opportunities: profitable U.S. expansion and capital-light international franchise growth. We wish Insomnia Cookies and their ownership group well as they work to realize the full potential of this unique brand.”

The divestment marks a strategic shift for Krispy Kreme as it concentrates on strengthening its U.S. market presence and expanding globally through franchise-led models. The company’s exit from Insomnia Cookies is aligned with its broader financial strategy of improving margins and reducing leverage.

Krispy Kreme Inc. has announced an agreement with restaurant group ISH Kreme to bring one of the world’s most loved sweet treats to Germany.

Krispy Kreme® will offer its iconic, fresh doughnuts to German consumers through a network of Krispy Kreme shops starting in Berlin.

“We are excited to expand into Germany as it has been a priority market for us, offering substantial growth with more than 3,000 points of access,” said Raphael Duvivier, Krispy Kreme Chief Development Officer. “Additionally, we are very pleased to partner with ISH leader Ilkem Sahin and the very experienced ISH team to grow in the market,” he added.

Krispy Kreme’s omni-channel fresh business, driven by a capital-efficient hub and spoke model, supports broad expansion in the US and international markets. Each Krispy Kreme doughnut is made fresh daily, hand-crafted, and hand-decorated to ensure the melt-in-your-mouth taste that has become synonymous with the brand.

This news follows the successful December 2023 Krispy Kreme launch in Paris. The company anticipates launching in Germany in early 2025. ISH manages 300 KFC and Pizza Hut restaurants throughout Germany.

Krispy Kreme operates in more than 35 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing Ecommerce and delivery business with more than 14,000 fresh points of access.

Krispy Kreme said its donuts would be available across McDonald's U.S. restaurants by the end of 2026 as the companies expand a pilot project, sending its shares surging 23% on Tuesday.

The companies were testing the program in 160 McDonald's restaurants in the Lexington and Louisville, Kentucky areas as part of the partnership that began in October 2022.

The phased roll-out of the program will begin in the second half of 2024, the companies said.

Krispy Kreme said it would not supply its donuts to any other quick service restaurant in the U.S. through Dec. 31, 2026, as part of the agreement.

The company has been aiming to open its outlets in at least 75,000 points of access such as quick-service restaurants and grocery stores around the world through a hub-and-spoke model.

Krispy Kreme said in February that it ended 2023 with 2,300 more points of access than 2022.

The company's shares were at an eight-month high, and were headed for their highest percentage rise ever, at current levels.

McDonald's has about 14,000 stores in the U.S., and said in December that it planned to open about 10,000 restaurants globally by 2027.

The company has struggled with weak overseas demand at its restaurants as a result of boycott campaigns against the burger giant in some international markets related to the Israel-Hamas conflict, as well as tough macro economic conditions in China.
 

Doughnut chain Krispy Kreme has appointed Jeremiah Ashukian as its Executive Vice President and Chief Financial Officer of Krispy Kreme, Inc. effective January 9, 2023.

Ashukian, a Mars veteran will succeed Josh Charlesworth who has served as Chief Financial Officer since April 2017.

Charlesworth will continue in his role as Global President and Chief Operating Officer.

“I am thrilled to be joining one of the most iconic and loved sweet treat brands at such an exciting time in its history. Krispy Kreme continues to have multiple attractive avenues to drive high growth and value creation, and I am excited to partner with this incredible management team to help pilot this strategy as we move forward,” shared Ashukian.

Ashukian brings 20 years of global executive finance experience from Mars, Inc., most recently as Chief Financial Officer of Mars Wrigley North America.

“On behalf of the Board of Directors, I am excited to welcome Jeremiah to the Krispy Kreme family. We are confident that his strong financial background and deep global experience in the consumer sector will help drive our strategic plans and deliver long-term value for shareholders. I also want to thank Josh for his many invaluable contributions as CFO over the past 5 years,” added President and CEO Mike Tattersfield.

Throughout his career as a finance executive, he has held various CFO roles in North America and Latin America at Mars, Inc. He also has experience leading M&A efforts, including Mars’ acquisition of KIND. Ashukian holds a BA in Mathematics from Wilfrid Laurier University as well as a CMA certification and his CPA license.

Headquartered in Charlotte, N.C., Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world and it operates in over 30 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing Ecommerce and delivery business with more than 11,000 fresh points of access.

Doughnut chain Krispy Kreme is partnering with TWIX^® for the first time ever to create three all-new caramelly, cookie-ie, crunchy doughnuts, including stuffing an entire TWIX^® Cookie Bar inside a delicious Krispy Kreme doughnut.

Beginning Feb. 21 for a limited time at participating Krispy Kreme shops throughout the U.S., doughnut and candy bar lovers can enjoy the unique experience of Krispy Kreme doughnuts made, topped and stuffed with

“We are always looking for new ways to provide our fans an awesome doughnut experience, so we’ve partnered with another iconic brand – TWIX^® – for the first time ever. We created mini and fun-size doughnuts made with TWIX^® Bars and then went even further to create a bar-shaped doughnut with a full-size TWIX^® Bar in the middle,” said Dave Skena, CMO, Krispy Kreme.

The regular sized doughnuts are available to purchase individually and as a specialty dozen to share containing four Caramel Cookie Crunch Bar Doughnuts filled with a TWIX^® Bar, four Caramel Cookie Crunch Original Filled Doughnuts topped with TWIX^® Bar pieces, and four Original Glazed Doughnuts.

The Mini Caramel Cookie Doughnut topped with TWIX^® Bar pieces is available in a box of 16 that also includes four Mini Strawberry Iced with Sprinkles Doughnuts, four Mini Chocolate Iced Doughnuts and four Mini Original Glazed Doughnuts.

American doughnut company and coffeehouse chain Krispy Kreme Inc is looking to raise around $640 million through a U.S. initial public offering, according to a regulatory filing with the US Securities and Exchange Commission , valuing the donut chain at nearly $4 billion.

Owned by JAB Holding Company, the doughnut chain is planning to return to public trading after five years as a privately held company.

Also Read: Doughnut-chain Krispy Kreme files for initial public offering

Known for its glazed donuts and coffee, it aims to sell about 26.7 million shares priced between $21 and $24 per share, the filing shared.

It is also planning to list on the Nasdaq under the ticker symbol "DNUT.

According to reports, it had confidentially filed with regulators in early May, which revealed a surge in revenue in the first quarter of 2021.

The brand recorded its highest level of sales, at $1.1 billion, in fiscal 2020.

Krispy Kreme first went public in 2000 but filed for Chapter 11 bankruptcy in 2005.

May Interest: America’s Krispy Kreme Surpasses Starbucks as Best Coffee Shop Brand In Public Poll

J.P. Morgan, Morgan Stanley, BofA Securities and Citigroup are the lead book-running managers for the offering.

American doughnut and coffee chain Krispy Kreme on Tuesday shared that it has confidentially filed paperwork related to a public offering of its stock with the Securities and Exchange Commission.

The number of shares that will be offered and their price range has not been determined, the company said, adding that the IPO is expected to happen after the SEC completes its review, reported CNN.

Krispy Kreme is also working to remodel its stores in recent years and has also opened lavish locations offering its wide-variety of menu.

It also opened a 4,500-square-foot store in New York City's Time Square with a glaze waterfall, a 24-hour street-side pickup window, exclusive merchandise and a doughnut-making theater that produces 4,560 doughnuts an hour.

Last month it also announced that customers who have been vaccinated against Covid-19 can get a free doughnut each day through the end of the year.

Krispy Kreme was purchased by JAB Holding Company, a private firm that invests in food and beverage brands in 2016.

In order to expand its reach, Krispy Kreme will now take online orders and deliver straight to the customer's doorstep in 15 US states. This will allow patrons within range of about 100 participating stores to order select items for pickup or delivery.

With the limited online ordering menu, the doughnut chain has started delivering through its mobile app in California, Washington D.C., Delaware, Georgia, Kansas, Maryland, Michigan, Mississippi, North Carolina, New Jersey, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, and Virginia. 

For now,  the online ordering menu will be limited to the following choices, Dozens, Brew Boxes, and Bottled Beverages. Also, delivery orders must meet a $7.99 minimum and include a delivery fee that varies by locations.

Krispy Kreme is in the process of launching online ordering across all its locations with the expectation that it will be complete by the end of 2019.

Niren Chaudhary

American fast-casual chain Panera Bread on Friday has announced Niren Chaudhary as CEO.

Chaudhary who was named COO of Krispy Kreme two years ago in March 2017, will be replacing Blaine Hurst, who is retiring next month but will remain on the company’s board as its vice chairman.

Before joining JAB, he’d spent 23 years with Yum Brands in a variety of executive positions.

Olivier Goudet, chairman of Panera and managing partner of JAB Holding Co., the chain’s majority investor, called Chaudhary “a recognized industry leader with an impressive track record of establishing brands and leading companies to achieve growth in markets around the world.”

Hurst will retire as CEO effective May 23. He will remain with Panera after Chaudhary joins the company in early May to ensure a smooth transition into the new role, the company shared in a statement.

JAB Holding is already the market leader in coffee and consumer fashion in the Europe market and is running some of the top international coffee chains including Espresso House, Krispy Kreme, Peet’s Coffee & Tea, Caribou Coffee Company, Einstein Noah Restaurant Group, and Baresso Coffee amongst others.

A business leader, motivational speaker and above all a good human being he is the recipient of the NCPEDP Shell Helen Keller Award and President of India's award for companies that believe in gainful employment for persons with disabilities. He also received the "Face of Year" award at the Franchise India convention in 2011.

Niren Chaudhary has quit as global president for KFC at Yum Brands after a stint of over 23 years at the company to join doughnut retailer Krispy Kreme.

Chaudhary, who was the India head of Yum Brands until 2015 and then promoted as president of KFC's global operations, is now president and chief operating officer at Krispy Kreme, based out of its London office, according to his LinkedIn profile.

The spokesperson said, "Niren Chaudhary has joined Krispy Kreme Doughnuts as president of international and chief operating officer. He reports to CEO Mike Tattersfield."

In an Instagram post, Chaudhary mentioned, "After 23 fantastic years it's time to say good bye to Yum today! What an incredible journey at one of the best companies in the world with great brands and even greater people... I would not be who I am today had it not been for Yum."

Chaudhary was in India recently and he had met board of directors and senior leaders at ethnic food chain Haldiram and spoke about building a global brand and culture, an update on his profile said.

Krispy Kreme Doughnuts and JAB Beech Inc has entered into a definitive merger agreement under which JAB Beech will acquire Krispy Kreme for $21 per share in cash, or a total equity value of approximately $1.35 billion.

The agreement, which has been unanimously approved by Krispy Kreme’s Board of Directors, represents a premium of approximately 25 per cent over the Company’s closing stock price on May 6, 2016.

At the close of the transaction, Krispy Kreme will be privately owned and will continue to be independently operated from Krispy Kreme’s current headquarters in Winston-Salem, N.C.

“For nearly 80 years, our iconic brand has been touching and enhancing lives through the joy that is Krispy Kreme. This transaction puts us in the best possible position to continue to spread that joy to a growing number of people around the world while delivering significant value to Krispy Kreme shareholders. I am confident the JAB team is the right partner with whom to continue building upon our incredible legacy,” shared Jim Morgan, Chairman of the Board of Directors of Krispy Kreme.

However, the transaction is not subject to a financing condition and is expected to close in the third quarter, subject to customary closing conditions, including receipt of regulatory and shareholder approvals.

“We look forward to working with JAB to continue bringing the joy that is Krispy Kreme to a growing number of customers. Together with our talented team and our passionate franchisees, we will continue to build on the Krispy Kreme culture, values and commitment to our customers and guests,” added Tony Thompson, CEO of Krispy Kreme.

Commenting on the association, Peter Harf, Senior Partner at JAB, said, “We are thrilled to have such an iconic brand as Krispy Kreme joining the JAB portfolio. This is yet another example of our commitment to investing in extraordinary brands with significant growth prospects. 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.”

Lite Bite Foods, one of the largest F&B retail company in the country has opened the first airport outlets of Krispy Kreme Doughnuts and 4700 BC Popcorn at Terminal 1D, New Delhi International Airport.

While Krispy Kreme will serve its signature glazed doughnuts such as Vanilla Cappuccino, Strawberry Shortcake, Éclair and a variety of beverages to go with it, 4700 BC will offer their unique flavored popcorns.

“We are delighted to add Krispy Kreme and 4700 BC in the list of our franchise outlets at the Airport. With millions of passengers travelling annually, the Delhi Airport has become a hub for QSR and Café’s. These outlets will add variety to the existing food options to the travelers and will open our market to youngsters and kids,” shared Rohit Aggarwal, Director, Lite Bite Foods.

The outlets will add to the company’s existing portfolio of core brands and franchise models giving more choices to kids and youngsters who are looking for some interesting food options at the Airport.

“We are happy to associate ourselves with Krispy Kreme and 4700 BC.Our existing outlets at the Airports are doing extremely well and we hope to generate similar business with these brands.”added, Sharad Sachdeva, CEO, Lite Bite Foods.

Lite Bite Foods has QSR brands such as Street Food by Punjab Grill and Bistro Café Baker Street that was recently awarded ‘Airport outlet of the year’ at the Indira Gandhi International Awards, 2015. The company also operates various other brands at the airports such as – Pizza Hut, KFC and has plans to start Burger King, and Belgian Fries.

Krispy Kreme which entered Indian market in 2013 is presently running three franchisees stores in North India and is planning to open 35 outlets in next five years.

“We feel that the Indian market is very receptive to American brands like Krispy Kreme. This is due to the exposure of the brands to Indian consumers through various media including social, digital and mainstream mainstreams,” said Manpreet Gulri, MD, Bedrock Foods, a licensed franchisee of Krispy Kreme Doughnut Corporation for the North India region.

Krispy Kreme is an international retailer of premium-quality sweet treats, including its signature Original Glazed (R) doughnut.

Headquartered in Winston-Salem, NC, the company has offered the highest quality doughnuts and great tasting coffee since its foundation in 1937.