Corporate Profiles - 2021 - 92

COMPANY OVERVIEW
Krispy Kreme, Inc.
Restaurant chain goes public for a second time
K
rispy Kreme, Inc., Charlotte, NC, put up
glowing financial results for its debut
quarter in its second try as a publicly
traded company. Investors appeared to remain
wary, though, as the company's stock price was
not as impressive.
Krispy Kreme, which was founded in 1937,
first went public in 2000. JAB Holding Co. then
turned the company private in 2016 after acquiring
it for $21 per share in cash, or a total
equity value of about $1.35 billion.
Krispy Kreme, in a June 22 filing this year
with the US Securities and Exchange Commission,
laid out plans on how it expected to
grow financially, pointing to its delivered fresh
daily (DFD) model. The DFD model is part of
an omni-channel business model and a huband-spoke
network in which the company's Hot
Light Shops produce donuts for fresh retail,
DFD, e-commerce and delivery. Krispy Kreme
also acquired a controlling interest in Insomnia,
a cookie chain, in 2018.
Krispy Kreme in the SEC filing said it expected
a range of $21 to $24 per share. New
Constructs, LLC, which provides insights into
private and public businesses, in a June 28 report
said Krispy Kreme's expected valuation of
$3.6 billion was overpriced and that it believed
the stock was no more than $1.6 billion.
The price opened at $16.30 per share July
1, the first day of trading, and closed at $21
that day. The news was better on Aug. 17 when
Krispy Kreme reported net revenue growth of
43% for the second quarter ended July 4. The
company gave a long-term outlook of organic
revenue growth of 9% to 11%, adjusted EBITDA
growth of 12% to 14%, and adjusted net
income growth of 18% to 22%.
" Our business is strong, healthy and expanding,
a direct result of the foundational work
we've done to set our omnichannel strategy
and deploy our hub-and-spoke model, " said
Michael J. Tattersfield, president and chief executive
officer, in an Aug. 17 earnings call to
discuss second-quarter results. " We believe that
our sustained growth in Q2 shows the resilience
of our approach as well as the ability to adapt
to evolving operating environments.
" Over our five-year transformation journey,
Krispy Kreme has evolved into a truly global
business with significant growth opportunities
still to come. We have made investments and
now own and operate our businesses in the UK
and Ireland, Australia and New Zealand, Mexico,
and the recently acquired business in Japan
with partners executing the omnichannel strategy
in the remaining international markets. "
Krispy Kreme at the end of the second
quarter had 45 spokes per hub in the United
States and Canada, up from 37 at the end of
2020. Internationally the number of spokes per
hub increased to 71 from 65. Krispy Kreme
launched a branded Sweet Treat line in 4,700
Walmart stores in 2020 and expanded it to
other US retailers this year.
" While early in its evolution, we believe the
Sweet Treat line is scaleable and will allow us to
push toward wide distribution through grocery
stores and convenience stores, " Mr. Tattersfield
said on Aug. 17.
As of July 4, the company had 9,575 global
points of access with about 1,726 Krispy Kreme
and Insomnia Cookies branded shops and
7,849 DFD Doors. Yet the stock price closed
at $14.04 per share on Aug. 17, down from a
close of $14.62 on Aug. 16. CP
Chief executive officer -
Michael J. Tattersfield
KRISPY KREME LOCATIONS:
Hot Light Theater Shops 376
Fresh Shops
Cookie Shops
Jan. 3 July 4
378
1,127 1,149
184
199
Adjusted net income growth
18% to 22%
92 \ October 2021
LONG-TERM OUTLOOK:
Organic revenue growth
9% to 11%
Adjusted EBITDA growth
12% to 14%
Krispy Kreme share price
per share
$14
$16
$18
$20
July
2021
Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Pet Food Processing * Dairy Processing
Corporate Profiles
Aug.
Sept.

Corporate Profiles - 2021

Table of Contents for the Digital Edition of Corporate Profiles - 2021

Corporate Profiles - 2021 - 1
Corporate Profiles - 2021 - 2
Corporate Profiles - 2021 - 3
Corporate Profiles - 2021 - 4
Corporate Profiles - 2021 - 5
Corporate Profiles - 2021 - 6
Corporate Profiles - 2021 - 7
Corporate Profiles - 2021 - 8
Corporate Profiles - 2021 - 9
Corporate Profiles - 2021 - 10
Corporate Profiles - 2021 - 11
Corporate Profiles - 2021 - 12
Corporate Profiles - 2021 - 13
Corporate Profiles - 2021 - 14
Corporate Profiles - 2021 - 15
Corporate Profiles - 2021 - 16
Corporate Profiles - 2021 - 17
Corporate Profiles - 2021 - 18
Corporate Profiles - 2021 - 19
Corporate Profiles - 2021 - 20
Corporate Profiles - 2021 - 21
Corporate Profiles - 2021 - 22
Corporate Profiles - 2021 - 23
Corporate Profiles - 2021 - 24
Corporate Profiles - 2021 - 25
Corporate Profiles - 2021 - 26
Corporate Profiles - 2021 - 27
Corporate Profiles - 2021 - 28
Corporate Profiles - 2021 - 29
Corporate Profiles - 2021 - 30
Corporate Profiles - 2021 - 31
Corporate Profiles - 2021 - 32
Corporate Profiles - 2021 - 33
Corporate Profiles - 2021 - 34
Corporate Profiles - 2021 - 35
Corporate Profiles - 2021 - 36
Corporate Profiles - 2021 - 37
Corporate Profiles - 2021 - 38
Corporate Profiles - 2021 - 39
Corporate Profiles - 2021 - 40
Corporate Profiles - 2021 - 41
Corporate Profiles - 2021 - 42
Corporate Profiles - 2021 - 43
Corporate Profiles - 2021 - 44
Corporate Profiles - 2021 - 45
Corporate Profiles - 2021 - 46
Corporate Profiles - 2021 - 47
Corporate Profiles - 2021 - 48
Corporate Profiles - 2021 - 49
Corporate Profiles - 2021 - 50
Corporate Profiles - 2021 - 51
Corporate Profiles - 2021 - 52
Corporate Profiles - 2021 - 53
Corporate Profiles - 2021 - 54
Corporate Profiles - 2021 - 55
Corporate Profiles - 2021 - 56
Corporate Profiles - 2021 - 57
Corporate Profiles - 2021 - 58
Corporate Profiles - 2021 - 59
Corporate Profiles - 2021 - 60
Corporate Profiles - 2021 - 61
Corporate Profiles - 2021 - 62
Corporate Profiles - 2021 - 63
Corporate Profiles - 2021 - 64
Corporate Profiles - 2021 - 65
Corporate Profiles - 2021 - 66
Corporate Profiles - 2021 - 67
Corporate Profiles - 2021 - 68
Corporate Profiles - 2021 - 69
Corporate Profiles - 2021 - 70
Corporate Profiles - 2021 - 71
Corporate Profiles - 2021 - 72
Corporate Profiles - 2021 - 73
Corporate Profiles - 2021 - 74
Corporate Profiles - 2021 - 75
Corporate Profiles - 2021 - 76
Corporate Profiles - 2021 - 77
Corporate Profiles - 2021 - 78
Corporate Profiles - 2021 - 79
Corporate Profiles - 2021 - 80
Corporate Profiles - 2021 - 81
Corporate Profiles - 2021 - 82
Corporate Profiles - 2021 - 83
Corporate Profiles - 2021 - 84
Corporate Profiles - 2021 - 85
Corporate Profiles - 2021 - 86
Corporate Profiles - 2021 - 87
Corporate Profiles - 2021 - 88
Corporate Profiles - 2021 - 89
Corporate Profiles - 2021 - 90
Corporate Profiles - 2021 - 91
Corporate Profiles - 2021 - 92
Corporate Profiles - 2021 - 93
Corporate Profiles - 2021 - 94
Corporate Profiles - 2021 - 95
Corporate Profiles - 2021 - 96
Corporate Profiles - 2021 - 97
Corporate Profiles - 2021 - 98
Corporate Profiles - 2021 - 99
Corporate Profiles - 2021 - 100
Corporate Profiles - 2021 - 101
Corporate Profiles - 2021 - 102
Corporate Profiles - 2021 - 103
Corporate Profiles - 2021 - 104
Corporate Profiles - 2021 - 105
Corporate Profiles - 2021 - 106
Corporate Profiles - 2021 - 107
Corporate Profiles - 2021 - 108
Corporate Profiles - 2021 - 109
Corporate Profiles - 2021 - 110
Corporate Profiles - 2021 - 111
Corporate Profiles - 2021 - 112
Corporate Profiles - 2021 - 113
Corporate Profiles - 2021 - 114
Corporate Profiles - 2021 - 115
Corporate Profiles - 2021 - 116
https://www.nxtbook.com/sosland/mbncp/corporate-profiles-2021
https://www.nxtbook.com/sosland/mbncp/2020_10_01
https://www.nxtbook.com/sosland/mbncp/2019_11_01
https://www.nxtbook.com/sosland/mbncp/2018_10_01
https://www.nxtbook.com/sosland/mbncp/2017_10_01
https://www.nxtbook.com/sosland/mbncp/2016_11_01
https://www.nxtbook.com/sosland/mbncp/2015_10_01
https://www.nxtbook.com/sosland/mbncp/2014_11_01
https://www.nxtbook.com/sosland/mbncp/2014_10_01
https://www.nxtbook.com/sosland/mbncp/2013_11_01
https://www.nxtbook.com/sosland/mbncp/2012_1001
https://www.nxtbook.com/sosland/mbncp/2011_10_01
https://www.nxtbook.com/sosland/mbncp/2010_10_01
https://www.nxtbook.com/sosland/mbncp/2009_11_01
https://www.nxtbook.com/sosland/mbncp/2008_11_01
https://www.nxtbook.com/sosland/mbncp/2007_11_01
https://www.nxtbook.com/sosland/mbncp/2006_11_01
https://www.nxtbook.com/sosland/mbncp/2005_11_01
https://www.nxtbookmedia.com