JAB Holdings-controlled donut and coffee chain prices 29.4 million shares at $17 – below the $21-$24 range it had anticipated – raising $500m
Photo credit: The Creative Exchange
US donut and coffee chain Krispy Kreme
has raised $500m in an IPO valuing the company at $2.7bn. The JAB Holdings-controlled company had initially planned to sell 26.7 million shares at $21-$24, which would have raised up to $640m.
The IPO marks Krispy Kreme’s return to the stock market five years after it was taken private by JAB Holding Company in 2016 as part of a $1.35bn deal.
Krispy Kreme opened its first store in North Carolina in 1937. It now sells branded bakery and coffee products in 12,000 grocery and convenience stores in the US and operates nearly 1,400 stores in 33 countries. Today, the company promotes that it makes 4,560 doughnuts every hour.