JAB Holding Co., owned by Germany’s Reimann family, has entered into an agreement to buy Krispy Kreme Doughnuts Inc. for approximately $1.3 billion. The deal is JAB’s second in the United States, with the goal of building a global coffee conglomerate to go head-to-head against Nestle SA NESN VX.
JAB led the $13.9 billion buyout of Keurig Green Mountain in March. It already owns the Caribou Coffee and Peet’s Coffee & Tea chains in the United States.
JAB will acquire Krispy Kreme of Winston-Salem, NC through JAB Beech Inc. Krispy Kreme, known for its glazed doughnuts and coffee, will continue operating independently following the deal’s close, which is anticipated during 3Q of this year.
Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.