Krispy Kreme said on Tuesday it had confidentially filed with U.S. regulators for an initial public offering, a move that would result in the doughnut chain’s return to the stock market five years after it was taken private, reported Reuters.
The company first went public in 2000, but later filed for Chapter 11 bankruptcy and was bought by privately-owned JAB Holding Co in a $1.35 billion deal in 2016.
The doughnut chain’s move would help it tap into a historic boom in U.S. capital markets, with companies raising $167 billion in 2020, according to Dealogic data, a record that investment bankers expect will be surpassed this year.
Known for its glazed sugary treats, Krispy Kreme opened its first store in North Carolina in 1937 currently and operates nearly 1,400 shops in 33 countries, according to the report.
Rival Dunkin’ Brands was taken private last year by Inspire Brands, owner of Arby’s and Sonic Drive-In, for $8.76 billion.
As a part of a promotion earlier this year, the company gave away free glazed doughnuts to anyone who showed a valid Covid-19 vaccination card at a Krispy Kreme store in the United States.