Krispy Kreme announced that it has filed with regulators for an initial public offering. The 83-year-old, Winston-Salem, NC-based doughnut chain’s filing seeks to capitalize on the massive level of interest and money floating around the stock market right now. Companies raised a record $167 billion in 2020, according to Dealogic data.
Krispy Kreme has been remodeling its stores and the opening blockbuster new locations, including one in Times Square. That location clocks in at a whopping 4,500 square feet and features a glaze waterfall and a doughnut-making theater that the company says produces 4,560 doughnuts every hour.
Krispy Kreme Initial Public Offering would bring the company back to the public markets after it was taken private five years ago. The company went public in 2000 but filed for Chapter 11 bankruptcy after a plunge in sales at some franchises and investigations into its accounting practices. German conglomerate JAB Holding then bought the company in a $1.35 billion deal in 2016, taking the chain private.
Late last year, Krispy Kreme competitor Dunkin’ made a move in the opposite direction. Inspire Brands, a holding company that owns fast-food restaurants, announced in October its purchase of Dunkin’, taking the brand private in an $11.3 billion deal.