WINSTON-SALEM, NC (AP) -- A former coffee company kingpin is showing confidence in the future of Krispy Kreme Doughnuts Inc.
The Winston-Salem Journal reports that Green Mountain Coffee Roasters Inc. founder Robert Stiller has become the company's new largest shareholder. The Winston-Salem-based doughnut chain says Stiller more than doubled his ownership stake to nearly 11 percent.
Stiller overtook the company's other top investor, a Kuwait-based firm that owns Krispy Kreme franchise rights in the Middle East.
Krispy Kreme CEO Jim Morgan told shareholders in June that coffee sales are a big part of the company's effort to extend beyond doughnuts. Coffee now represents about 4 percent of Krispy Kreme's sales.
Information from: Winston-Salem Journal, http://www.journalnow.com
(Copyright 2011 by The Associated Press. All Rights Reserved.)