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Krispy Kreme Inc. said Tuesday it has completed its divestiture of its Insomnia Cookies subsidiary, netting an estimated $75 million in cash proceeds from selling its remaining 34% stake.

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The buyers are Verlinvest Cookies Holdings Inc. and Mistral Sleepless Holdings 2 LLC. Krispy Kreme said it will use the $75 million to pay down corporate debt.

Verlinvest and Mistral Equity Partners, which announced the deal on June 10, acquired a majority interest in Insomnia Cookies from Krispy Kreme last July for $127.4 million. Krispy Kreme, a ...

According to Insomnia Cookies, its investor group, Verlinvest and Mistral Equity Partners, have increased their investment in the company and will acquire Krispy Kreme’s stake.

PHILADELPHIA — The private equity owners of Insomnia Cookies have bought out Krispy Kreme’s minority stake in the fresh-baked cookie chain and online store for $75 million in cash. Verlinvest and ...