Krispy Kreme bought a majority stake in Insomnia Cookies in 2018.
The decision is part of an effort to focus more on its core donut business, the company said.in a deal backed by European investment firm JAB Holding, which had taken Krispy Kreme private in 2016. The deal valued Insomnia Cookies at less than $500 million,"We acquired a majority stake in Insomnia Cookies to build our e-commerce and digital capability as well as assist Insomnia's U.S. and International expansion," said Krispy Kreme CEO Mike Tattersfield in a statement.
"It has been an honor to partner with Krispy Kreme in an unprecedented chapter of growth for Insomnia Cookies," Berkowitz said in a statement.Hunter Biden
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