Krispy Kreme’s Largest Shareholder Bought More Stock

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Krispy Kreme’s

largest shareholder bought even more stock when the donut slinger went public earlier this month.

Krispy Kreme (ticker: DNUT) shares soared earlier this month in its latest initial public offering. The company went public two decades ago, but global-investment firm JAB Holding took Krispy Kreme private in 2016.

A JAB Holding subsidiary paid $94.3 million on July 6 for 5.9 million Krispy Kreme shares at $16.02 each, purchased from the underwriters of the IPO. According to a JAB Holding filing with the Securities and Exchange Commission, the firm now has 68 million Krispy Kreme shares, and remains the donut maker’s largest shareholder.

Before the stock purchase, JAB Holding had owned 62.1 million of the shares, a 38.6% stake.

Krispy Kreme Chairman Olivier Goudet, who is also JAB Holding’s managing partner and CEO, bought more stock, as well. He paid $4.7 million on July 6 for 294,118 Krispy Kreme shares, also from the underwriters. Goudet, who has been Krispy Kreme’s chairman since May 2017, purchased the stock through an investment vehicle that now owns 1.4 million shares. Goudet also owns 529,149 Krispy Kreme shares in a personal account.

JAB Holding and Goudet had expressed interest in buying more Krispy Kreme stock in approximately those amounts, according to the company’s regulatory filings ahead of the initial public offering.

JAB Holding and Goudet declined to comment on the stock purchases.

Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at [email protected] and follow @BarronsEdLin.