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Doughnut maker Krispy Kreme unveils IPO filing, reports revenue pop

Mount Equity Group Tokyo Japan > News > Business > Doughnut maker Krispy Kreme unveils IPO filing, reports revenue pop

Doughnut chain Krispy Kreme on Tuesday unveiled its filing for an initial public offering, revealing that it plans to trade on the Nasdaq under the ticker symbol “DNUT.”

The 83-year-old company, which is owned by European conglomerate JAB Holding, announced its plans to go public last month.

In its filing unveiled Tuesday, the company said it made $321.8 million in revenue for the first fiscal quarter of 2021, up 23 percent from $261.2 million reported a year earlier.

The company touted its e-commerce capabilities and brand recognition in its filing. In addition to its name-branded stores, Krispy Kreme also owns Insomnia Cookies, which it bought in 2018.

“In addition to creating awesome doughnut experiences, we create ‘cookie magic’ through our Insomnia Cookies business (‘Insomnia’), which specializes in warm, delicious cookies delivered right to the doors of its loyal customers (‘Insomniacs’), along with an innovative portfolio of cookie cakes, ice cream, cookie-wiches and brownies,” the company said in its filing.

The company also noted that it achieved its highest-ever net revenue of $1.1 billion during the COVID-19 pandemic in fiscal year 2020.

“Our strategy is built on our belief that almost all consumers desire an occasional indulgence, and that when they