Krispy Kreme is preparing to go public.
The doughnut company said on Tuesday that it has confidentially filed paperwork related to a public offering of its stock with the Securities and Exchange Commission. The number of shares that will be offered and their price range has not been determined, the company said, adding that the IPO is expected to happen after the SEC completes its review.
The company has been working to remodel its stores in recent years and has also opened lavish locations showcasing its sugary treats.
Over the summer, Krisy Kreme opened a 4,500-square-foot location in New York City’s Time Square with a glaze waterfall, a 24-hour street-side pickup window, exclusive merchandise and a doughnut-making theater that produces 4,560 doughnuts an hour. Krispy Kreme has been opening new locations in the city.
In March, the company made a splash when it announced that customers who have been vaccinated against Covid-19 can get a free doughnut each day through the end of the year.
Krispy Kreme has been private since 2016, when it was purchased by JAB Holding Company, a private firm that invests in food and beverage brands. It had previously gone public in 2000, and had some difficult years before the 2016 acquisition.
Late last year, Krispy Kreme’s competitor Dunkin’ made a move in the opposite direction.
Inspire Brands, a holding company that owns fast food restaurants, announced in October its purchase of Dunkin‘, taking the brand private in an $11.3 billion deal.
— CNN Business’ Jordan Valinsky contributed to this report.