Krispy Kreme Stock Soars After Partnering With McDonald's
Shares of donut brand Krispy Kreme (NASDAQ: DNUT) soared on Tuesday after the company announced a major partnership with fast-food giant McDonald's (NYSE: MCD). As of 10 a.m. ET, Krispy Kreme stock was up 18%. For its part, McDonald's stock was little changed.
Way back in October 2022, Krispy Kreme and McDonald's started an experiment with donuts delivered to and sold at McDonald's locations. Then in February 2023, the experiment was expanded to 160 McDonald's locations. Now more than a year after the expansion of its experiment, the two companies are ready to take the partnership across the country.
McDonald's had roughly 13,500 U.S. locations as of the end of 2023. Donut lovers will start seeing Krispy Kreme in these locations in the second half of this year. However, due to the size of McDonald's, it will take time to fully roll out. Management for Krispy Kreme says it won't be available everywhere until 2026.
Source Fool.com
