Courtesy: Krispy Kreme Doughnuts(NEW YORK) — Popular donut chain Krispy Kreme is poised to acquire a majority stake in cookie delivery company Insomnia Cookies, the company announced Friday.

The terms of the agreement were not disclosed.

Krispy Kreme CEO Mike Tattersfield says the companies “will continue to operate independently” but “can learn a great deal from each other as we each continue to expand and grow.”

Insomnia Cookies founder Seth Berkowitz says the two companies both aspire “to be the best at what we do and delight consumers with the highest quality sweet treat experiences.”

Krispy Kreme operates more than 1,000 retail shops in 32 countries, and distributes products to approximately 8,000 grocery, convenience and mass merchant stores. Insomnia, meanwhile, has 135 shops in the United States.

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Source: Business