JAB Beech Announces Takeover Of Krispy Kreme
After recently purchasing Keurig, JAB Beech, a holding company of premium retail coffee brands in the US such as Peet’s Coffee and Tea has announced that it will be acquiring Krispy Kreme, a major American doughnut company.
About JAB Beech
JAB Beech or the JAB Holding Company is a privately held group which invests in premium companies that create Consumer Goods. It has stakes in Coty Inc, the Einstein Noah Restaurant Group, Jimmy Choo Limited and the Caribou Coffee Company.
Indeed, JAB Beech has stakes in a variety of coffee and tea brands; it has a majority stake in Peet’s Coffee and Tea and owns Espresso House and Baresso Coffee A/S. Under the Peet’s Coffee and Tea brand, JAB bought Might Leaf tea and Intelligentsia Coffee & Tea. As previously mentioned, it also recently bought Keurig which makes single cup coffee machines.
JAB And Krispy Kreme
On Monday, JAB Beech announced that it would be acquiring Krispy Kreme in a private deal for about $1.35 billion. Krispy Kreme has over 1,100 shops around the world.
Following the announcement, the rates for Krispy Kreme’s stock went over 24% higher. Shares climbed to $20.92 on Monday afternoon.
Considering JAB’s reputation as a coffee giant, it is interesting to note that Krispy Kreme has recently been trying to revv up its coffee game with signature Krispy Kreme blends and a range of hot and cold coffees. Additionally, it also launched edible coffee treats – Krispy Kreme Coffee Thins. With JAB’s takeover, we assume that the chain’s – which has till now been better known for its doughnuts – coffee game will get even stronger.