US doughnut maker Krispy Kreme Doughnuts has said it has completed its purchase of US bakery chain Montana Mills Bread Co.
Based on the closing price of Krispy Kreme’s stock on Monday of US$34.19, the deal is valued at $41.9m, slightly more than the $41.3m value it had when it was announced in January.
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Krispy Kreme’s chief financial officer Randy Casstevens said that the company had not made any changes to its predictions regarding the effect of the deal on the company’s earnings, reported Dow Jones News Service.
Last month, Krispy Kreme said it expects the Montana Mills purchase to cut earnings by 3 cents a share in the fiscal year to January 2004, although Montana Mills’ operations should break even.
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