Parent Company Of Peet's Coffee, Keurig Acquires Krispy Kreme Doughnuts

NEW YORK (CBS/AP) – The company that already bought up Peet's Coffee and Keurig coffee machines has now acquired one of America's most popular doughnut makers.

Krispy Kreme is being taken private by JAB Beech in a deal worth approximately $1.35 billion.

The doughnut company's stock soared more than 23 percent in Monday premarket trading.

JAB Beech Inc. will pay $21 for each share of Krispy Kreme Doughnuts Inc. That's about a 25 percent premium to the Winston-Salem, North Carolina-based company's Friday closing price of $16.86.

Krispy Kreme's board unanimously approved the transaction, which is targeted to close in the third quarter. The company said that it will postpone its annual shareholders meeting, which was originally set for June 14.

JAB Beech is the holding company for Emeryville-based Peet's Coffee and Tea, Caribou Coffee and Einstein Noah. Its $13.5 billion acquisition of Keurig Green Mountain single serve coffee machine maker made headlines in 2015.

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