Restaurant News Update: Krispy Kreme Sells Insomnia Cookies, Panera Brands Plans to Offload Secondary Concepts, NLRB Drops Appeal
Stay informed with the latest restaurant industry news. Krispy Kreme's sale of Insomnia Cookies, Panera Brands' decision to sell Caribou Coffee and Einstein Bros, and the NLRB dropping its appeal of the joint-employer ruling.
Photo by Jakub Dziubak on Unsplash
Photo by Jakub Dziubak on Unsplash
Krispy Kreme Sells Insomnia Cookies
In a significant move, Krispy Kreme has finalized the sale of Insomnia Cookies to private-equity firms Verlinvest and Mistral Equity Partners for a staggering $172.4 million. This transaction marks a strategic shift for Krispy Kreme as it aims to leverage the funds generated to fuel its expansion plans and alleviate existing debt burdens. By divesting Insomnia Cookies, Krispy Kreme is streamlining its focus on core operations in the fiercely competitive dessert market.
Panera Brands' Strategic Offloading of Secondary Concepts
Amid industry buzz, Panera Brands has reportedly initiated discussions to offload its secondary concepts, Caribou Coffee and Einstein Bros. This strategic move comes three years after the formation of the parent company, indicating a reevaluation of the brand portfolio in preparation for a potential IPO for Panera. By divesting these concepts, Panera Brands aims to optimize its resources and concentrate on enhancing its core business, aligning with market trends and investor expectations.
NLRB Drops Appeal of Joint-Employer Ruling
Following a series of legal developments, the National Labor Relations Board (NLRB) has decided to withdraw its appeal regarding the joint-employer ruling. This decision comes in the wake of a federal judge's ruling that invalidated the expanded rule. The NLRB's move indicates a recalibration of its stance on this contentious issue, providing temporary clarity for businesses navigating labor relations dynamics. The implications of this decision could reverberate across industries impacted by joint-employer considerations.