WINSTON-SALEM, N.C. /PRNewswire-FirstCall via COMTEX News Network/ -- Krispy Kreme Doughnut Corporation announced today that it has entered into a franchise development agreement with Dominspec, S.A. for the development of 14 Krispy Kreme shops over the next five years in the Dominican Republic. Dominspec, S.A. is a quick service restaurant (QSR) conglomerate that operates Burger King and Papa John's restaurants in the Dominican Republic.
"Having an experienced and successful franchise partner like Dominspec, S.A. introduce Krispy Kreme in the Dominican Republic is a great opportunity for Krispy Kreme," said Jeff Welch, Krispy Kreme President, International. "Dominspec, S.A. has significant QSR experience and we look forward to working with them to share the one-of-a-kind Krispy Kreme experience with consumers there."
"The addition of Krispy Kreme will strategically complement and widen Dominspec, S.A. existing food and beverage operations," said Isabel Turull, Managing Operator of Dominspec, S.A. "We are delighted to enter into a franchise relationship with Krispy Kreme and be part of their international expansion. Krispy Kreme is a well known brand around the world with terrific tasting unique products and we expect Krispy Kreme to do very well in the Dominican Republic."
The Krispy Kreme Original Glazed((R)) doughnut can be found in 18 countries, including the United States, Australia, Bahrain, Canada, Indonesia, Japan, Kuwait, Lebanon, Malaysia, Mexico, the Philippines, Puerto Rico, the Republic of Korea, Qatar, the Kingdom of Saudi Arabia, Turkey, the United Arab Emirates, and the United Kingdom.
. Is a conglomerate with more than 15 years of experience in the fast food business, which includes Burger King with 30 restaurants, Papa John's with 3 restaurants, and entertainment business Palacio del Cine movie theatres with 25 screens in the country.
Krispy Kreme is an international 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. Today, Krispy Kreme can be found in approximately 530 locations around the world. Krispy Kreme Doughnuts, Inc. (NYSE: KKD) is listed on the New York Stock Exchange.
Information contained in this press release, other than historical information, should be considered forward-looking. Forward-looking statements are subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on Krispy Kreme's operating results, performance or financial condition are the outcome of pending governmental investigations, including by the Securities and Exchange Commission (the "SEC") and the United States Attorney's Office for the Southern District of New York; potential indemnification obligations and limitations of our director and officer liability insurance; 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 new domestic operating model and refranchising strategy; currency, economic, political and other risks associated with our international operations; the price and availability of raw materials needed to produce doughnut mixes and other ingredients; compliance with government regulations relating to food products and franchising; our relationships with wholesale customers; our ability to protect our trademarks; risks associated with our high levels of indebtedness; restrictions on our operations and compliance with covenants contained in our secured credit facilities; changes in customer preferences and perceptions; significant changes in our management; risks associated with competition; and other factors discussed in Krispy Kreme's Annual Report on Form 10-K for fiscal 2008 and other periodic reports filed with the SEC.
SOURCE Krispy Kreme Doughnut Corporation