From an editorial in Tuesday’s Winston-Salem Journal:
Krispy Kreme Doughnuts, part of the fabric of Winston-Salem for 78 years, put us on the national map, then the world map. It had its share of troubles, but rebounded so well it has attracted major corporate interest. Monday, that culminated with news of a big buyout deal.
We’re keeping our fingers crossed that this deal will be beneficial for this crucial company.
The company has accepted an offer of $1.35 billion to be acquired by JAB Beech Inc. and to be taken private.
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This may allow Krispy Kreme to compete better with Dunkin’ Donuts, John Stanton, a professor of food marketing at Saint Joseph’s University in Philadelphia, told the Journal.
It’s good that the company will remain based here. But many questions remain, such as: Will the new owner bring in its own management team? Private investment likes to get cost savings quickly. But we hope this deal eventually adds jobs.
The new owner would be wise to keep Jim Morgan on as chairman. He has shown well his mettle in responding to challenging change. He could work well with the new owner in this important company’s next big chapter, one that we hope will be a good one for Krispy Kreme and the town that loves it.