Doughnut-maker Krispy Kreme is buying a majority stake in Philadelphia-based Insomnia Cookies for an undisclosed sum.
The Winston-Salem, North Carolina-based Krispy Kreme made the announcement Friday.
Krispy Kreme CEO Mike Tattersfield says in a statement they are "delighted" to add Insomnia to the company. The late-night bakery specializes in warm cookie deliveries.
U.S. & World
Seth Berkowitz will remain in charge of Insomnia after the close of the sale later this year.
Berkowitz founded Insomnia Cookies in 2003 when he was a student at the University of Pennsylvania.
Copyright AP - Associated Press
