Verlinvest and Mistral Equity Partners completed the acquisition of a majority stake in Insomnia Cookies from Krispy Kreme for $172m.

Verlinvest, an investment holding company, and Mistral Equity Partners, a New York City-based private equity firm, completed the acquisition of a majority stake in Insomnia Cookies, a bakery chain delivering warm cookies, baked goods, and ice cream, from Krispy Kreme, an American multinational doughnut company and coffeehouse chain, for $172m. “As we build a bigger and better Krispy Kreme, this transaction allows us to focus on our core strategy of producing, selling, and distributing fresh doughnuts daily while also further strengthening our balance sheet. Following a thorough review, we are confident that Verlinvest and Mistral are the right partners to share in the success of Insomnia Cookies given their food industry experience and long-standing track record of value creation,” Josh Charlesworth, Krispy Kreme President and CEO.