Krispy Kreme revenue increases ahead of scheduled stock market listing

A man walks past a Krispy Kreme “Hot Now” neon sign in Times Square in the Manhattan neighborhood of New York City, New York, United States, October 16, 2020. REUTERS / Carlo Allegri / File Photo

Krispy Kreme reported increased revenue for the first quarter of 2021 as the donut chain prepares to return to the stock market after five years, according to an initial public offering (IPO) filing released on Tuesday .

Krispy Kreme last month confidentially filed with US regulators for an IPO. Read more

The company first went public in 2000, but was forced to file for Chapter 11 bankruptcy in 2005 following financial restatements, investigations into its accounting practices and a drop in sales at some of the companies. its franchisees.

It was bought by privately-held JAB Holding Co in a $ 1.35 billion deal in 2016, when the investment firm increased its bets on coffee and restaurant businesses.

Krispy Kreme’s planned list comes at a time when demand for snacks and sweets increases from customers who crave familiar treats while staying at home due to COVID-19 restrictions.

The company reported revenue of $ 321.8 million in the quarter ended April 4, up from $ 261.2 million a year earlier. (https://bit.ly/3yUuGbK)

Known for his frozen sweet treats, Krispy Kreme opened his first store in North Carolina in 1937 when he started selling donuts in local grocery stores. She now sells her treats in grocery and convenience stores in the United States and operates stores in 30 countries.

JPMorgan, Morgan Stanley, BofA Securities and Citigroup are the main accounting managers of the offering.

Krispy Kreme plans to list its shares on the Nasdaq under the symbol “DNUT”.

Our standards: Thomson Reuters Trust Principles.


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