PHILADELPHIA, PA — Insomnia Cookies has announced new investments from Verlinvest and Mistral Equity Partners. This move is set to propel the company toward its goal of opening more than 1,800 bakeries in the U.S. and beyond.
Verlinvest, known for backing top consumer brands, will leverage its expertise to support Insomnia’s global growth ambitions. Mistral Equity Partners, a previous investor, returns to help accelerate the brand’s expansion further. These investors aim to add Insomnia to their portfolio of innovative businesses.
“Building off of a very successful five-year partnership with Krispy Kreme, we’re 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 from Insomniacs across the globe,” said CEO and Founder, Seth Berkowitz.
With this transaction, Krispy Kreme has sold its majority stake in Insomnia Cookies to concentrate on its core doughnut business. However, Krispy Kreme remains a significant investor, underscoring its confidence in Insomnia’s growth potential.
Insomnia has shown strong financial performance and brand strength, leading to plans for its most significant expansion year yet. The company is set to open 55 new stores in 2024 and plans to establish over 1,500 additional bakeries in the U.S. in the coming years. International markets will also see new Insomnia outlets as part of this aggressive growth strategy.
This new chapter for Insomnia Cookies aims to meet the rising demand for their signature warm cookies, ensuring that more fans worldwide can enjoy their late-night treats.
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