Krispy Kreme will acquire a majority stake in Insomnia Cookies, a late-night bakery concept with 135 shops in the United States offering cookies, brownies, cookie cakes, ice-cream and even cold milk. The company specializes in delivering warm cookies to customers. Financial terms of the deal were not disclosed.
Upon completion of the deal, which is expected to happen during the fourth quarter of 2018, Insomnia Cookies will continue to operate independently. Seth Berkowitz, who founded the company in 2003 while a student at the University of Pennsylvania, will continue to lead Insomnia Cookies.