May 11, 2016
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.