JAB Beech to acquire Krispy Kreme Doughnuts

US-based Krispy Kreme Doughnuts is to be acquired by a unit of JAB Holding for approximately $1.35bn.

This deal marks the latest acquisition by JAB Holding. Recent purchases include single-serve coffee machine maker Keurig Green Mountain, which was bought last year for roughly $13.9bn.

JAB Holding has offered $21 a share for the doughnut company.

At the close of the deal, Krispy Kreme will continue to be independently operated from its current headquarters in Winston-Salem, North Carolina.

Krispy Kreme CEO Tony Thompson said: "JAB’s experience and industry knowledge make them the ideal partner to help grow the iconic Krispy Kreme brand throughout the world.

"We remain focused on our long-term strategy and continuing to offer our premium, high-quality doughnuts and sweet treats to consumers around the world.

"We look forward to working with JAB to continue bringing the joy that is Krispy Kreme to a growing number of customers. Together with our talented team and our passionate franchisees, we will continue to build on the Krispy Kreme culture, values and commitment to our customers and guests."

JAB senior partner Peter Harf said: "This is yet another example of our commitment to investing in extraordinary brands with significant growth prospects."

The deal is expected to close in the third quarter, subject to customary closing conditions, including receipt of regulatory and shareholder approvals.

Krispy Kreme is a branded speciality retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed doughnut.