Krispy Kreme Doughnuts now has a new owner. The doughnut company was acquired by JAB Holding Company, along with a minority investor, BDT Capital Partners, on Monday.
According to the New York Times, Krispy Kreme was purchased for $1.35 billion. The billionaire Reimann family, who owns JAB, are heirs to the German consumer goods conglomerate Joh. A. Benckiser.
The company is no stranger to coffee. In fact, they're slowing building themselves a pretty formidable collection of coffee assets throughout the years. Currently, JAB owns Peet's Coffee, Caribou Coffee, Stumptown Coffee Roasters and Einstein Brothers Bagels.
Last December, JAB bought Keurig Green Mountain for $13.9 billion. A real power move.
Recently, Krispy Kreme has shifted priorities to selling coffee. While Krispy Kreme will still do their own independent thing, but will no longer trade in the public markets.
With so many coffee acquisitions under JAB's belt, should Starbucks be concerned?
Photo: Krispy Kreme Facebook