German billionaire heirs to add Krispy Kreme doughnuts to menu

New York

A GERMAN billionaire family has been on a breakfast buying binge. The newest item on its plate: doughnuts. The board of Krispy Kreme, best known for its warm glazed doughnuts, has agreed to the company's acquisition by JAB Holding Co and a minority investor, BDT Capital Partners, for US$1.35 billion, it announced on Monday.

JAB is the investment arm of the Reimann family, heirs to German consumer goods conglomerate Joh A Benckiser. Its subsidiary, JAB Beech, plans to add the company's doughnuts to its other quick-serve American breakfast staples, including several coffee chains and a bagel company.