Krispy Kremes by Keurig — it has a pleasant, if vaguely Kardashianesque feeling about it. Something about all the Ks.
And perhaps a branding reality yet to come since Keurig's parent firm JAB Holding Company has just agreed to acquired the North Carolina based purveyor of hot glazed confections for about $1.35 billion.
JAB, apart from Keurig, is also the fund behind Caribou Coffee, as well as Jimmy Choo shoes and Durex condoms. The firm is the money manager for the Reimann family of Germany, known best for building an international coffee powerhouse at top speed over the last half decade.
Earlier this year, a JAB-led investor group completed its acquisition of Keurig Green Mountain Inc. for about $14 billion, as well as a 2015 deal for $5 billion for control of Mondelez Inc.’s coffee business. It also owns Peet’s Coffee & Tea, and Danish coffee-bar chain Baresso Coffee A/S.
Krispy Kreme, which also sells coffee, is in a highly competitive market with Starbucks Corp. and Dunkin Brands Inc. It has had a roller coaster decade and a half since going public in the early 200os.
Of the acquisition deal, Peter Harf, a JAB senior partner, noted that it “is yet another example of our commitment to investing in extraordinary brands with significant growth prospects."
The deal has been unanimously approved by Krispy Kreme's board of directors.