Krispy Kreme to buy Insomnia Cookies for undisclosed sum

Doughnut-maker Krispy Kreme is buying a majority stake in Philadelphia-based Insomnia Cookies for an undisclosed sum.

The Winston-Salem, North Carolina-based Krispy Kreme made the announcement Friday.

Krispy Kreme CEO Mike Tattersfield says in a statement they are "delighted" to add Insomnia to the company. The late-night bakery specializes in warm cookie deliveries.

Seth Berkowitz will remain in charge of Insomnia after the close of the sale later this year.

Berkowitz founded Insomnia Cookies in 2003 when he was a student at the University of Pennsylvania.