Krispy Kreme (DNUT) announced the sale of its remaining stake in Insomnia Cookies Holdings, LLC to Insomnia Cookies and certain existing shareholders involved in the July 17, 2024 sale of the company’s majority ownership stake. Krispy Kreme received aggregate cash proceeds of $75M from the transaction, which is expected to be used for debt pay down after transaction-related fees and expenses. “We continue to take swift, decisive action to de-leverage our balance sheet and drive sustainable, profitable growth,” said Krispy Kreme CEO, Josh Charlesworth. “This is an important step as we focus on our two biggest opportunities: profitable U.S. expansion and capital-light international franchise growth. We wish Insomnia Cookies and their ownership group well as they work to realize the full potential of this unique brand.”
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