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Krispy Kreme Plans to Go Public Again, Raising Up to $640 Million

Krispy Kreme was originally taken private back in 2016 by JAB Holding, but now it intends to IPO again.
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Krispy Kreme said in an SEC filing Tuesday that it plans to raise $560 million to $640 million in an initial public offering, selling 27 million shares at a price of $21 to $24.

The popular doughnut chain is currently owned by JAB Holding, a Luxembourg-based conglomerate that also owns Panera Bread and Pret A Manger.

Krispy Kreme initially went public 21 years ago during the bubble and then hit the skids. JAB Holding took Krispy Kreme private in a $1.35 billion deal in 2016.

The stock will trade on Nasdaq under the ticker “DNUT.”

“Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world,” the company said in its prospectus. “Over its 83-year history, Krispy Kreme has developed a broad consumer base, selling 1.3 billion doughnuts across 30 countries in fiscal 2020,” which ended Jan. 31, 2021.

“As an affordable indulgence enjoyed across cultures, races, and income levels, we believe that Krispy Kreme has the potential to deliver joyful experiences across the world,” the company said.

For fiscal 2020, it posted $1.12 billion of net revenue, $145.4 million of adjusted EBITDA, $42.3 million of adjusted net income and $60.9 million of net loss.

In other fast food IPO news, Sweetgreen, the quick-serve salad chain, has filed confidentially for an initial public offering. The news was broken Monday by Axios. Sweetgreen has been the subject of IPO rumors for years.