Krispy Kreme, based in Winston-Salem, North Carolina, filed documents for its public offering on the New York Stock Exchange on Tuesday, RestaurantBusinessOnline.com said.
Krispy Kreme wants to use the funds to pay off a line of credit for 2019. $ 1.2 billion in debt and interest on the donut merchant’s debt prevent him from profiting despite soaring profits.
- Related: Krispy Kreme would like to give you a free donut every day for the rest of the year if you are vaccinated
Revenue has grown an average of 19% every year since 2016 after European investment firm JAB Holdings privatized the company. In 2018, the company acquired Insomnia Cookies, a cookie delivery company known for its vegan and three-layer biscuits with around 191 locations.
Krispy Kreme has also successfully implemented a “fresh daily delivery” strategy in supermarkets and convenience stores while developing a range of “branded goodies” for retailers. The donut maker’s locations totaled 1,515 worldwide last year, according to a state securities file. compared to around 1,400 in 2018. Its “daily fresh delivery” locations are now over 7,300 worldwide.
- To know more: Krispy Kreme sells its donuts in OXXO, as reported on social networks
Based on the filing of the S-1 prospectus, Krispy Kreme had total net sales of $ 321.8 million for the first fiscal quarter of 2021, an increase of 23% over the same period last year. The company also thrived during the COVID-19 pandemic and had its highest net sales of $ 1.12 billion in fiscal 2020, it reported. Fox Business Network.