Insomnia Cookies sets course for accelerated growth with new investor group

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Jul 23, 2024, 09:00 ET

Insomnia Cookies welcomes Verlinvest and Mistral Equity Partners to propel global expansion

PHILADELPHIA, July 23, 2024 /PRNewswire/ -- Insomnia Cookies, the bakery brand best known for delivering delicious warm cookies late into the night is pleased to welcome Verlinvest and Mistral Equity Partners as new investors. As a result of increased demand from their cult-like fans and the new partnership, Insomnia is prepared to accelerate its path to reach more than 1800 bakeries in the US and beyond.

Verlinvest brings a proven track record of investing in top consumer brands and will utilize their expertise to further support Insomnia's success across the globe. Mistral Equity Partners, a former long-term investor in Insomnia, returns to support the beloved brand and further accelerate growth. The new investors will add to their portfolios of disruptive businesses and help unlock the potential for continued expansion.

"Building off of a very successful five-year partnership with Krispy Kreme, we're thrilled to welcome Verlinvest and Mistral into this chapter of our journey. We now are poised to further accelerate our growth, exceed our long-term ambitions and most importantly deliver on the growing demand for warm, delicious treats from Insomniacs across the globe," said CEO and Founder, Seth Berkowitz.

As a result of the transaction, Krispy Kreme sold their majority stake in Insomnia Cookies to focus on its core strategy of producing, selling and distributing fresh doughnuts daily but remains a significant investor, highlighting its continued confidence in Insomnia Cookies' growth trajectory.

As a result of Insomnia's strong financial performance, strength of the brand and growing demand for their innovative products, Insomnia is on track to open 55 stores in 2024, the most in the company's history. In addition, the brand has plans to open more than 1500 bakeries in the United States over the next few years, with additional growth coming from new international markets.

About Insomnia Cookies
Insomnia Cookies is a rapidly expanding late-night bakery concept headquartered in Philadelphia, PA. Founded in a University of Pennsylvania dorm room by then-student Seth Berkowitz, Insomnia Cookies has been feeding the insatiable hunger of loyal Insomniacs since 2003. Today, with more than 285 locations nationwide, Insomnia Cookies offers a wide variety of delicious cookies, ice cream, and other sweet treats in-store, for local delivery, and nationwide shipping. Details about Insomnia's menu, delivery, and nationwide shipping options can be found here (late-night delivery until 1 a.m. or later). To place an order or learn more about Insomnia Cookies, visit www.InsomniaCookies.com. Keep up-to-date on the latest cookie news and grand opening deals by following Insomnia Cookies on Instagram, Facebook, Twitter, and TikTok.

About Krispy Kreme
Headquartered in Charlotte, N.C., Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world. Our iconic Original Glazed® doughnut is universally recognized for its hot-off-the-line, melt-in-your-mouth experience. Krispy Kreme operates in more than 35 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing Ecommerce and delivery business with more than 14,000 fresh points of access. Our purpose of touching and enhancing lives through the joy that is Krispy Kreme guides how we operate every day and is reflected in the love we have for our people, our communities, and the planet. Connect with Krispy Kreme Doughnuts at www.krispykreme.com and follow us on social: X, Instagram and Facebook.

About Verlinvest

Verlinvest is an international, family-backed evergreen investment company. It identifies inflection points in consumer behaviors and partners with the businesses that are driving these consumer revolutions forward while having a positive impact. Established in 1995, with offices in Brussels, London, New York, Mumbai, and Singapore, Verlinvest focuses on the FMCG, health, consumer technology, and lifestyle categories, investing across three strategies: Platform, Growth, and Venture. Its portfolio includes the likes of Oatly, Tony's Chocolonely, K1 Speed, Vita Coco, and Mutti.

About Mistral Equity Partners

Mistral Equity Partners is a New York City-based private equity firm that specializes in the consumer and media sectors and is especially attracted to businesses that are supported by strong demographic trends and fundamental changes in consumer preferences. Mistral invests primarily in North American companies with enterprise values between $100 million and $300 million. Mistral's principals also have invested capital through Haymaker Acquisition Corp. and its successor SPAC entities managed by Mistral CEO Andrew Heyer and Mistral Managing Director Christopher Bradley. Mistral and Haymaker portfolio investments include or have included: Jamba Juice, Lovesac, OneSpaWorld, Biote, ARKO, Vino Volo, and Shearer's Foods.

Download Insomnia Cookies images here.

Media Contact:
Eddie Ravert
610-731-7229
[email protected]

SOURCE Insomnia Cookies