Krispy Kreme has filed documents for an initial public offering that will see the doughnut maker return to the stock market five years after going private.
Overnight, the company said it has filed confidential documents with US regulators for the IPO. The company made its first market debut back in 2000, although in 2005 it filed for Chapter 11 bankruptcy amid sliding sales at some of its franchises as well as an investigation into its accounts.
The glazed pastry maker was then purchased by private equity group JAB Holding in 2016 for US$1.35bn, however, the owner now seems keen to float the firm again, perhaps in a bid to take advantage of the sugar rush among investors that has served to propel markets higher in recent months and helped other companies make successful market debuts.
Krispy Kreme’s trajectory is also the opposite of its rival, Dunkin’ Donuts owner Dunkin’ Brands, which was taken private last year through a US$8.76bn deal with Inspire Brands, the owner of Sonic Drive-In and burger chain Arby’s.