On Friday, July 20, Krispy Kreme Doughnut Corporation announced that it had reached an agreement with Insomnia Cookies to acquire a majority stake in the leading cookie delivery company. Terms of the transaction were not disclosed, but Insomnia Cookies will continue to operate as an independent, standalone company following the close of the transaction in the fourth quarter 2018.

“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," says Mike Tattersfield, CEO of Krispy Kreme Doughnuts.

Insomnia Cookies is a late-night bakery concept specializing in warm cookie delivery. The company was founded by Seth Berkowitz in his University of Pennsylvania college dorm room in 2003, and it has continued to grow ever since. The company currently has 135 cookie shops in the United States.

“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," says Seth Berkowitz.