Krispy Kreme Stock Jumps 14% After Expanding Partnership With McDonald's
By Will Feuer
Shares of Krispy Kreme surged after the donut maker said it has reached a deal to sell its donuts at McDonald's restaurants across the U.S.
The stock jumped more than 14% to $14.20 in premarket trading. Through Monday, shares were down almost 21% from a year ago.
McDonald's said it will start rolling out the donuts in the second half of this year and they will be available all over the country by the end of 2026. McDonald's had already started trialing the rollout of Krispy Kreme donuts at some locations.
The deal is a boon for Krispy Kreme, which has been working to expand its distribution without driving up supply-chain costs. Krispy Kreme Chief Executive Josh Charlesworth said the partnership will double the company's points of access by the end of 2026.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
March 26, 2024 06:33 ET (10:33 GMT)
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