Krispy Kreme announced it is exploring strategic alternatives for Insomnia Cookies, to include considering an all-cash sale. Krispy Kreme acquired a majority stake in Insomnia Cookies in 2018 and expects revenues of approximately $230M in fiscal year 2023. “Today’s decision enables Krispy Kreme to unlock shareholder value and focus on its core strategy of producing, selling and distributing fresh doughnuts daily. “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. Both efforts have been successful and it’s time for the next strategic step for both companies,” said Mike Tattersfield, Krispy Kreme CEO,” noted the company release.
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