Krispy Kreme Buys Majority Stake in Cookie Delivery Company
Mike Tattersfield, CEO of Krispy Kreme Doughnuts, said “…These two great brands can learn a great deal from each other as we each continue to expand and grow.”
Terms of the transaction were not disclosed. Insomnia Cookies will continue to operate as an independent, standalone company following the close of the transaction in the fourth quarter 2018 and Seth Berkowitz will continue to lead the company.
Insomnia Cookies is a bakery concept with 135 shops in the United States offering cookies, brownies, cookie cakes, ice-cream and cold milk. The company was founded in a college dorm room in 2003 by Berkowitz, and specializes in delivering warm cookies.
Krispy Kreme doughnuts can be found in approximately 8,000 grocery, convenience and mass merchant stores in the US and has more than 1,400 retail shops in 32 countries.