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After disappointing efforts in these locations, Rudolph quit the family business and moved to Winston-Salem, North Carolina with the secret recipe and the last $200 he had to his name. Rudolph set out and started an empire that lasted virtually unchanged until his death in 1973. In 1973 his partner became CEO from 1958 to 1974 Krispy Kreme went from 1 million dollars in profit to over 58 million. In 1976, Beatrice Foods bought Krispy Kreme and tried a multitude of things and profits quickly declined as consumers turned on the company. In 1985 Joseph McAleer bought Krispy Kreme for the sum of 22 million dollars in 9 years Krispy had lost over 36 million dollars over 62% decline in value...
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