Keurig Coffee owner JAB offers to buy Krispy Kreme, for $1.35B US

The German owner of Keurig coffee wants to take doughnut chain Krispy Kreme private in a deal worth $1.35 billion US.

JAB Holding Co. said Monday it will pay $21 for each share of Krispy Kreme Doughnuts Inc. That's about a 25 per cent premium to the Winston-Salem, North Carolina-based company's Friday closing price of $16.86.​

Krispy Kreme has more than 1,100 shops in more than 26 countries, including a handful in Canada.

Peter Harf, a senior partner at JAB, said in a written statement that the acquisition is part of its strategy of investing in brands with significant growth prospects.

The announcement said Krispy Kreme will continue to be independently operated from its current headquarters.

Krispy Kreme's board unanimously approved the transaction, which is targeted to close in the third quarter.

The company said that it will postpone its annual shareholders meeting, which was originally set for June 14.

Its shares climbed almost $4 or about 25 per cent to $20.83 on the New York Stock Exchange on Monday morning.

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