Krispy Kreme Doughnuts has been bought for $1.35 billion, which could buy you a dozen of those warm, gooey glazed doughnuts that the company is famous for 169 million times.
The giant doughnut chain was bought by JAB Beech Inc., which also recently purchased Keurig Green Mountain coffee (another step, apparently, in their quest for a perfect breakfast).
Find out what's happening in Gilroyfor free with the latest updates from Patch.
Anyone who thinks this means the end of seeing the "HOT" sign on and swerving across three lanes of traffic to pick up a dozen need not worry.
Krispy Kreme will become a private company again, but that's about the only major change to come out of the deal. It will continue to be independently operated out of its Winston-Salem, North Carolina, headquarters.
Find out what's happening in Gilroyfor free with the latest updates from Patch.
"We remain focused on our long-term strategy and continuing to offer our premium, high-quality doughnuts and sweet treats to consumers around the world," Krispy Kreme CEO Tony Thompson said in a statement.
The company's shares bottomed out at nearly $13 in November but closed Friday at $16.86. Monday's deal sold the company at $21 per share.
Click here to find a list of the Krispy Kreme Doughnut shops in California.
Image via Martin Thomas, Flickr, used under Creative Commons
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
