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JAB led a buyout of Keurig Green Mountain for $13.9 billion. Krispy Kreme is a leading branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed doughnut. Headquartered in Winston-Salem, N.C., the company has offered high quality doughnuts and coffee since it was founded in 1937. Today, there are over 1,100 Krispy Kreme shops in more than 26 countries around the world. The $21 per share purchase price represents a premium of approximately 25% over the company’s closing stock price on May 6, 2016. The deal has been unanimously approved by Krispy Kreme’s board of directors. At the close of the transaction, Krispy Kreme will be privately owned and will continue to be independently operated from Krispy Kreme’s current headquarters in Winston-Salem, N.C. The transaction is not subject to a financing condition and is expected to close in the third quarter, subject to customary closing conditions, including receipt of regulatory and shareholder approvals. “For nearly 80 years, our iconic brand has been touching and enhancing lives through the joy that is Krispy Kreme. This transaction puts us in the best possible position to continue to spread that joy to a growing number of people around the world while delivering significant value to Krispy Kreme shareholders,” said Krispy Kreme’s chairman, Jim Morgan. “JAB’s experience and industry knowledge make them the ideal partner to help grow the iconic Krispy Kreme brand throughout the world. We remain focused on our long term strategy and continuing to offer our premium, high-quality doughnuts and sweet treats to consumers around the world,” added Tony Thompson, CEO of Krispy Kreme. “We are thrilled to have such an iconic brand as Krispy Kreme joining the JAB portfolio,” commented Peter Harf, senior partner at JAB. Wells Fargo Securities, LLC is serving as financial advisor to Krispy Kreme in connection with this transaction and Simpson Thacher & Bartlett LLP and Womble Carlyle Sandridge & Rice, LLP are providing legal support and advice. Barclays and BDT & Co. LLC are serving as financial advisors to JAB in connection with this transaction and Skadden, Arps, Slate, Meagher & Flom LLP is providing legal advice. JAB, headquartered in Luxembourg, is 95% owned by four of Germany’s Albert Reimann, Jr.’s nine adopted children. Each inherited 11.1% on his death in 1984, but in the following years, five sold their stakes to the other four, Matthias Reimann-Andersen, Renate Reimann-Haas, Stefan Reimann-Andersen and Wolfgang Reimann, each of whom is now worth $3.8 billion, according to Forbes. The Reimann family’s wealth dates back to the German chemical company Benckiser, which was started in 1823. It moved into consumer goods in the 50s. The family took the company public in 1997, and merged with the British consumer goods company Reckitt and Colman two years later. JAB Holding Company is a privately held group focused on long-term investments in companies with premium brands, attractive growth and strong margin dynamics in the Consumer Goods category. The group’s portfolio includes controlling stakes in Keurig Green Mountain, a leader in single-serve coffee and beverage technologies, Jacobs Douwe Egberts (JDE), the largest pure-play FMCG coffee company in the world, Coty Inc., a global leader in beauty, and in luxury goods companies including Jimmy Choo, Bally and Belstaff. JAB also has controlling stakes in Peet’s Coffee & Tea, a premier specialty coffee and tea company, Caribou Coffee Company, a specialty retailer of high-quality premium coffee products, Einstein Noah Restaurant Group, Inc., a leading company in the quick-casual segment of the restaurant industry, and in Espresso House, the largest branded coffee shop chain in Scandinavia. JAB also owns a minority stake in Reckitt Benckiser PLC, a global leader in health, hygiene and home products. In July 2015, Coty announced it had reached a definitive agreement to purchase some of Procter & Gamble’s beauty brands to create one of the world’s largest cosmetic companies. JAB is overseen by its three senior partners, Peter Harf, Bart Becht (Chairman) and Olivier Goudet (CEO).]]>