Krispy Kreme Signs Development Agreements For 11 Shops in Arkansas, Montana, Illinois and Kentucky
Krispy Kreme (NYSE:KKD) today announced it has signed development agreements to open 11 Krispy Kreme shops in Arkansas, Montana, Illinois and Kentucky over the next several years.
“We are excited to be able to expand our presence in these areas and do so with top-quality franchisees,” said Patricia Perry, Krispy Kreme’s Vice President, US Franchise Development. “These operators have a great deal of experience and a track-record of success. We are confident they will do an exceptional job of delivering that unique Krispy Kreme experience to a growing number of fans.”
The agreement with Dennis Porter, President of DTL of the Emerald Coast, includes four additional shops to open in Arkansas. The group opened its first shop last December. Porter has extensive QSR experience, including being part of the Sonic system for the past 24 years with six franchises.
“Our first Krispy Kreme shop opening was met with great enthusiasm,” said Porter. “The demand for Krispy Kreme’s signature sweet treats and great tasting coffee continues to grow in this area, and we have every reason to believe these new shops will meet those demands.”
The agreement with Mark Boyd, President of Sweet Treat Holdings, includes a minimum of four shops to open throughout Montana. Boyd also has extensive QSR experience as a former longtime franchisee with KFC and Burger King.
“We are excited to bring the Krispy Kreme brand to Montana and become an excellent corporate citizen,” said Boyd. “We are eager to turn on the ‘Hot Doughnuts Now’ sign and make things a little sweeter in Montana.”
Finally, the agreement with Rodney Cabaness, President of Hungry Guys, LLC, includes three shops to open in Marion, Ill. and Paducah, Ky. In addition to his other business ventures, including owning a Harley Davidson dealership and a real estate investment company, Cabaness has partnered with Eric Schneider to head operations. Schneider has 26 years of restaurant experience with Darden Restaurants.
“We have a very talented and experienced team ready to meet the expectations of Krispy Kreme fans in Marion and Paducah,” said Cabaness.
About Krispy Kreme
Krispy Kreme is a global retailer of premium-quality sweet treats, including its signature Original Glazed(R) 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.
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