WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Krispy Kreme (NYSE:KKD) today announced it has signed a development agreement with KK Doughnuts SA (Pty) Ltd., to open 31 Krispy Kreme shops in South Africa over the next five years. This marks the company’s first venture into Africa.
“From Asia to the Middle East to now Africa, the global demand for Krispy Kreme and its signature sweet treats continues to grow,” said Dan Beem, Krispy Kreme’s Senior Vice President and President – International. “We’ve partnered with outstanding operators who have vast experience in foodservice throughout South Africa. We’re confident Krispy Kreme will establish itself as the country’s premiere sweet treats provider under their leadership.”
Fournews Developments (Pty) Ltd., and John & Gerry’s Brands (Pty) Ltd., are the principal owners of KK Doughnuts SA. Majority owner, Fournews Developments, currently operates six other brands throughout South Africa such as Café Fino, Newscafe and Smooch frozen yogurt.
“Krispy Kreme is an iconic global brand that fits very well within our portfolio of brands,” said Nick Eleftheriadis, Executive Director, Marketing. “The South African consumer is looking for quality and value, which is exactly what Krispy Kreme delivers. We’re confident Krispy Kreme will quickly become a favorite of South Africans.”
Krispy Kreme’s Original Glazed® doughnuts, great tasting coffee, and other assorted sweet treats can be found in more than 1,000 shops in 24 countries.
About Krispy Kreme
Krispy Kreme 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 is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. Krispy Kreme has more than 1,000 retail shops in 24 countries. Krispy Kreme is listed on the New York Stock Exchange (NYSE: KKD). For more information about Krispy Kreme visit www.KrispyKreme.com. Also visit us on Facebook at www.Facebook.com/KrispyKreme, on Twitter at www.Twitter.com/KrispyKreme, and on Instagram at www.Instagram.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.