Krispy Kreme Doughnuts Inc. (NYSE: KKD) agreed to be acquired by JAB Beech Inc., a JAB Holding Co. subsidiary in a $1.35 billion deal.

Investors in the coffee-and-doughnut chain will receive $21 a share in cash, Winston-Salem, North Carolina-based Krispy Kreme said Monday in a statement. That represents a 25 percent premium over the stock’s closing price on Friday.

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