Market Overview

Krispy Kreme Doughnut Corporation to Acquire Majority Stake in Insomnia Cookies


Krispy Kreme Doughnut Corporation ("Krispy Kreme"), the most loved
doughnut brand in the world, and Insomnia Cookies, the leading cookie
delivery company in the United States, today announced an agreement
through which Krispy Kreme will acquire a majority stake in Insomnia
Cookies. Terms of the transaction were not disclosed.

Mike Tattersfield, CEO of Krispy Kreme Doughnuts, commented: "At Krispy
Kreme, we have an 81-year heritage of creating the most awesome doughnut
experience imaginable, and today we are delighted to add Insomnia
Cookies, a rapidly growing business with an innovative delivery
experience and exceptional product that is beloved by consumers. While
our companies will continue to operate independently, these two great
brands can learn a great deal from each other as we each continue to
expand and grow."

Seth Berkowitz, founder of Insomnia Cookies, added: "Mike and I share
the same ambition for our brands: To be the best at what we do and
delight consumers with the highest quality sweet treat experiences. My
team and I are confident that this shared vision makes Krispy Kreme the
ideal partner to support Insomnia through our next phase of growth. We
are thrilled to be joining the Krispy Kreme family."

Insomnia Cookies will continue to operate as an independent, standalone
company following the close of the transaction in the fourth quarter
2018 and Seth Berkowitz will continue to lead the company.

About Krispy Kreme Doughnut Corporation

Krispy Kreme Doughnut Corporation is a global retailer of
premium-quality sweet treats, including its signature Original Glazed
doughnut. Headquartered in Winston-Salem, NC, and with offices in
Charlotte, NC and London, UK. The company has offered the
highest-quality doughnuts and great-tasting coffee since it was founded
in 1937. Krispy Kreme Doughnuts is proud of its Fundraising program,
which for decades has helped non-profit organizations raise millions of
dollars in needed funds. Krispy Kreme doughnuts can be found in
approximately 8000 grocery, convenience and mass merchant stores in the
US. The company has nearly 1,400 retail shops in 32 countries.

About Insomnia Cookies

Insomnia Cookies is a rapidly expanding late-night bakery concept with
offices in both New York and Philadelphia. Founded in a college dorm
room in 2003 at the University of Pennsylvania, by then student, Seth
Berkowitz, Insomnia Cookies has been feeding the insatiable hunger of
its fans ever since. The company specializes in delivering warm,
delicious cookies right to the doors of individuals and companies alike.
Whether you're feeding a craving or a crowd, Insomnia Cookies' offerings
of cookies, brownies, cookie cakes, ice-cream and even cold milk, has
you covered. The company has 135 Cookie shops in the United States.

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