Krispy Kreme and Insomnia Cookies have announced an agreement through which Krispy Kreme will acquire a majority stake in Insomnia Cookies. Insomnia Cookies is the leading cookie delivery company in the United States.
“At Krispy Kreme, we have an 81-year heritage of creating the most awesome doughnut experience imaginable, and today we are delighted to add Insomnia Cookies, a rapidly growing business with an innovative delivery experience and exceptional product that is beloved by consumers,” said Mike Tattersfield, CEO of Krispy Kreme Doughnuts. “While our companies will continue to operate independently, these two great brands can learn a great deal from each other as we each continue to expand and grow.”
“Mike and I share the same ambition for our brands: To be the best at what we do and delight consumers with the highest quality sweet treat experiences,” added Seth Berkowitz, founder of Insomnia Cookies. “My team and I are confident that this shared vision makes Krispy Kreme the ideal partner to support Insomnia through our next phase of growth. We are thrilled to be joining the Krispy Kreme family.”
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 rapidly expanding late-night bakery concept with 135 shops in the United States offering cookies, brownies, cookie cakes, ice-cream and even cold milk. The company was founded in a college dorm room in 2003 at the University of Pennsylvania, by then student, Seth Berkowitz, and specializes in delivering warm, delicious cookies right to the doors of individuals and companies alike.
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.