Iconic brand signs development agreement to open 24 shops over the next five years
WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Krispy Kreme Doughnuts, Inc. (NYSE:KKD) today announced its signature sweet treats will soon be available in Peru through a development agreement it has signed with Agape Coral, SAC, to open 24 Krispy Kreme® shops throughout the country over the next five years.
“The Krispy Kreme brand has done very well throughout Latin America over the past several years, and we’re confident our signature sweet treats and coffee will be a hit in Peru,” said Dan Beem, Krispy Kreme Doughnuts Senior Vice President and President – International. “Agape Coral is an experienced group that knows what it takes to give our guests that authentic Krispy Kreme® experience.”
The principal owner of Agape Coral is Fontana Holdings Business, Ltd., in which Manuel Corripio Alonso owns a majority interest.
“We are excited to bring Krispy Kreme® to Peru,” said Alonso. “If our experience with the brand in the Dominican Republic is any indication, the Peruvian people will quickly embrace Krispy Kreme’s® signature sweet treats, including our famous Original Glazed® doughnut, coffee and assorted beverages.”
About Krispy Kreme
Krispy Kreme Doughnuts is a global retailer of premium-quality sweet treats, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, N.C., the Company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937. Krispy Kreme Doughnuts is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. The Company has more than 1,000 retail shops in 24 countries. Connect with all things Krispy Kreme® at www.KrispyKreme.com, or on one its many social media channels, including www.Facebook.com/KrispyKreme, and www.Twitter.com/KrispyKreme.
Information contained in this press release, other than historical information, should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management’s beliefs, assumptions and expectations of our future economic performance, considering the information currently available to management. These statements are not statements of historical fact.
Forward-looking statements involve risks and uncertainties that may cause our actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition we express or imply in any forward-looking statements. The words “believe,” “may,” “forecast,” “could,” “will,” “should,” “would,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “seek,” “strive” or similar words, or the negative of these words, identify forward-looking statements. Factors that could contribute to these differences include, but are not limited to: the quality of Company and franchise store operations; our ability, and our dependence on the ability of our franchisees, to execute on our and their business plans; our relationships with our franchisees; our ability to implement our international growth strategy; our ability to implement our domestic small shop operating model; political, economic, currency and other risks associated with our international operations; the price and availability of raw materials needed to produce doughnut mixes and other ingredients, and the price of motor fuel; our relationships with wholesale customers; our ability to protect our trademarks and trade secrets; changes in customer preferences and perceptions; risks associated with competition; risks related to the food service industry, including food safety and protection of personal information; compliance with government regulations relating to food products and franchising; increased costs or other effects of new government regulations relating to healthcare benefits; and risks associated with implementation of new technology platforms.
These and other risks and uncertainties, which are described in more detail in the Company’s most recent Annual Report on Form 10-K and other reports and statements filed with the United States Securities and Exchange Commission, are difficult to predict, involve uncertainties that may materially affect actual results and may be beyond the Company’s control, and could cause actual results, performance or achievements to be materially different from those expressed or implied by any of these forward-looking statements. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.