Krispy Kreme doughnut chain gets $1.35B US takeover bid from Keurig-owner JAB

The German owner of Keurig coffee wants totakedoughnut chain Krispy Kreme private in a deal worth $1.35 billion US.

JAB Holding Co. said Monday itwill pay$21 for each share ofKrispyKremeDoughnuts Inc. That's about a 25 per cent premium to the Winston-Salem, North Carolina-based company's Friday closing price of $16.86.

Krispy Kreme has more than 1,100 shops in more than 26 countries, including a handful in Canada.

German conglomerate JAB has beefed up its holdings in recent years and now owns recognizable brands like French cosmetics maker Coty, and luxury shoe and apparel line Jimmy Choo.

As it does with many of its acquisitions, JAB says Krispy Kreme will continue to be independently operated from its current headquarters.

Krispy Kreme's board unanimously approved the transaction, which is targeted to close in the third quarter.

The company said that it will postpone its annual shareholders meeting, which was originally set for June 14.

Its shares climbed almost $4 or about 25 per centto $20.83 on the New York Stock Exchangeon Monday morning.