|
Krispy Kreme last month confidentially filed with U.S.
regulators for an IPO.
The company first went public in 2000, but it had to file for
Chapter 11 bankruptcy in 2005 following financial restatements,
investigations into its accounting practices and a plunge in
sales at some of its franchisees.
It was bought by privately owned JAB Holding Co in a $1.35
billion deal in 2016 when the investment firm was ramping up its
bets on coffee and restaurant businesses.
Krispy Kreme's planned listing comes at a time when demand is
rising for snacks and sweets from customers craving familiar
treats while staying at home due to COVID-19 restrictions.
The company reported revenue of $321.8 million in the quarter
ended April 4, compared with $261.2 million a year earlier.
(https://bit.ly/3yUuGbK)
Known for its glazed sugary treats, Krispy Kreme opened its
first store in North Carolina in 1937 when it started selling
doughnuts in local grocery stores. It now sells its treats in
grocery and convenience stores in the United States and operates
shops in 30 countries.
J.P.Morgan, Morgan Stanley, BofA Securities and Citigroup are
lead book-running managers for the offering.
Krispy Kreme plans to list its shares on Nasdaq under the symbol
"DNUT".
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Shounak Dasgupta)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
