Krispy Kreme Looks to Sell Stake in Insomnia Cookies to Refocus on Doughnuts

Krispy Kreme is exploring selling its majority stake in Insomnia Cookies to focus on its core doughnut business.

Krispy Kreme acquired Insomnia in 2018 to build e-commerce and digital capabilities and assist expansion.

Insomnia has tripled revenue since 2017 and expanded from 135 to 250 locations.

Insomnia was founded in 2003 by a University of Pennsylvania student to serve cookies late into the night.

Insomnia's CEO said it was an "honor to partner with Krispy Kreme" in a chapter of unprecedented growth.