FMP
Krispy Kreme Stock Jumps 24% as McDonald's Partnership Goes National
Mar 26, 2024 3:31 PM - Davit Kirakosyan
Image credit: FMP
Krispy Kreme (NASDAQ:DNUT) shares jumped more than 24% intra-day today following an announcement of a partnership with McDonald's to distribute Krispy Kreme donuts in McDonald's U.S. restaurants by the end of 2026.
The rollout is scheduled to start in the second half of 2024. This move is part of Krispy Kreme's strategy to expand its presence globally through a hub-and-spoke model, targeting 75,000 points of access, including quick-service restaurants and grocery stores. By the end of 2023, Krispy Kreme had already increased its points of access by 2,300 compared to the previous year. This collaboration arrives as McDonald's has faced challenges with international demand partly due to boycotts linked to the Israel-Hamas conflict and economic difficulties in China. Prior to the full rollout, the companies conducted a pilot program in 160 McDonald's outlets in Kentucky, starting October 2022.
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