Philadelphia / PA. (iso) Insomnia Cookies is pleased to welcome Verlinvest and Mistral Equity Partners as new investors. As a result of increased demand, the bakery brand is poised to accelerate its journey to reach more than 1800 bakeries in the U.S. and beyond. Verlinvest brings a proven track record of investing in top consumer brands and will utilize their expertise to further support Insomnia’s success across the globe. Mistral Equity Partners, a former long-term investor in Insomnia, returns to support the beloved brand and further accelerate growth. The new investors will add to their portfolios of disruptive businesses and help unlock the potential for continued expansion.
«Building off of a very successful five-year partnership with Krispy Kreme, we are thrilled to welcome Verlinvest and Mistral into this chapter of our journey. We now are poised to further accelerate our growth, exceed our long-term ambitions and most importantly deliver on the growing demand for warm, delicious treats across the globe,» said CEO Seth Berkowitz, who founded the bakery chain in 2003 together with Jared Barnett.
As a result of the transaction, Krispy Kreme sold their majority stake in Insomnia Cookies to focus on its core strategy of producing, selling and distributing fresh doughnuts daily but remains a significant investor, highlighting its continued confidence in Insomnia Cookies’ growth trajectory.
As a result of Insomnia’s strong financial performance, strength of the brand and growing demand for their innovative products, Insomnia is on track to open 55 stores in 2024, the most in the company’s history. In addition, the brand has plans to open more than 1500 bakeries in the United States over the next few years, with additional growth coming from new international markets.
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