Will these doughnuts turn into stock market gold? Krispy Kreme is going public

Start getting bullish about your waistline.

Krispy Kreme Tuesday morning unveiled plans to go public. The 83-year-old doughnut company, best known for its Original Glazed, has filed a Form S-1 with the Securities and Exchange Commission. Its proposed ticker symbol on the Nasdaq is DNUT

The doughnut maker is owned by Luxembourg-based JAB Holdings, whose portfolio also includes Panera Bread, Keurig Dr Pepper, Coty, and Einstein Bros. Bagels.

According to the document, the Winston-Salem, North Carolina, company sold 1.3 billion doughnuts in 30 countries during fiscal year 2020 and recorded net revenues of $1.1 billion, the most sales in its history. In fiscal year 2019, net revenues were over $959 million and the fiscal year before that, close to $796 million.

“Our strategy is built on our belief that almost all consumers desire an occasional indulgence, and that when they indulge, they want a high quality, emotionally differentiated experience. We believe this desire, especially one which is affordable to consumers, exists during good times and bad,” Krispy Kreme wrote in its Form S-1.

From fiscal 2016 to fiscal 2020, its net revenue compound annual growth rate was 19.1%, the company added.

This wouldn’t be the first time Krispy Kreme goes public. That was back in 2000. Then, five years later, it filed for Chapter 11. In 2016, JAB acquired the doughnut company for about $1.35 billion.

Friday is National Doughnut Day.

In May, JAB-owned JDE Peet’s, better known as Peet’s Coffee, went public. It is listed on Euronext Amsterdam.