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Krispy Kreme’s stock price has soared following a partnership with McDonald’s.
Krispy Kreme shares rose by up to 23% in pre-market trading on September 26th after McDonald’s announced plans to supply Krispy Kreme doughnuts to all U.S. stores by the end of 2026.
The two companies have announced that the partnership will begin in the second half of 2024.
This partnership comes at a time when McDonald’s is facing significant boycotts in some international markets related to the Israel-Hamas conflict and is struggling with weakening overseas demand.
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The two companies have already been testing this program as part of a partnership that began in October 2022 at 160 McDonald’s locations in Lexington and Louisville, Kentucky.
Krispy Kreme aims to open at least 75,000 access points worldwide through the Hub and Spoke model, such as quick-service restaurants and grocery stores.
In February 2022, it secured over 2,300 additional access points compared to the previous year. The company also announced that it had completed the year 2023.
Meanwhile, McDonald’s owns around 14,000 stores in the U.S. and announced plans in December to open approximately 10,000 stores worldwide by 2027.
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