Krispy Kreme is getting into the cookie business after announcing today that it has reached an agreement to acquire a majority stake in Insomnia Cookies.
Advertisment
Story continues below
Founded by Seth Berkowitz in a college dorm room at the University of Pennsylvania in 2003, Insomnia Cookies is a chain of bakeries that specializes in delivering warm cookies until 3 a.m.
Insomnia Cookies has 135 Cookie shops in the US, with a menu that includes cookies, brownies, cookie cakes, ice-cream and even cold milk.
While terms of the deal were not disclosed, Insomnia Cookies will continue to operate as an independent, standalone company following the close of the deal later this year, with Seth Berkowitz remaining at the helm.
Image – Insomnia Cookies/Mashup