Well, it looks like Krispy Kreme is making its way into the cookie business. In a company press release, Krispy Kreme announced their plans to acquire a majority stake in Insomnia Cookies. If you aren’t familiar, it’s a nationwide cookie chain with locations situated mostly close to college campuses. They're known for delivering freshly baked cookies 'til 3 am, hence the name "insomnia."
According to CNBC, a deal is close to being made, with Insomnia Cookies being valued by sources at less than $500 million. This purchase will add to the growing coffee and restaurant portfolio of European investment firm JAB Holding. JAB, who bought Krispy Kreme back in 2016 for $1.35 billion, also owns Keurig Dr. Pepper, Peet’s Coffee & Tea, and Panera Bread.
Founder Seth Berkowitz will still be in charge of Insomnia Cookies (and the company will still operate as its own company) after the sale is finalized later this year. He’s already made moves in expanding the cookie business to include brownies and ice cream, with combinations of all three.
With the diversity in Insomnia’s desserts, Krispy Kreme will be looking to expand their reach past doughnut enthusiasts to include dessert-lovers of all kinds.
I can already see the crazy combinations that could be made between the two. Like doughnut coffee-flavored ice cream sandwiches or a chocolate glazed doughnut filled with chocolate chip cookie dough. The possibilities are endless.
To top it all off, Krispy Kreme will be adopting Insomnia's delivery service, so you'll be able to get your doughnuts delivered straight to your door.
As of now, nothing has been finalized, but an announcement should be made in the weeks to follow. I’m just happy that Insomnia Cookies is finally getting the recognition they deserve. They cured my late night sweet tooth all throughout college, and I can’t wait to see what’s in store for their future.