WINSTON-SALEM, N.C., Oct 29, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Krispy Kreme Doughnut Corporation announced today that it has entered into an agreement with KDN Company Limited for the development of 20 franchise Krispy Kreme retail shops in Thailand over the next five years. KDN Company Limited is majority owned and operated by Ms. Ausanee Mahagitsiri, eldest child of successful Thai industrialist Prayudh Mahagitsiri.
"With KDN Company Limited, we have found a franchise partner in Thailand with a true passion for the Krispy Kreme brand and our world famous products," said Jeff Welch, Krispy Kreme president, international. "We believe that their unique and sound understanding of the Thai consumer, combined with their years of successful business experience across a variety of consumer industries, is a strong asset for them as they establish the Krispy Kreme brand in Thailand."
"We are excited to introduce to the Thai people a premium doughnut and the one-of-a-kind experience that is associated with the Krispy Kreme brand," said Ausanee Mahagitsiri, chief executive officer of KDN Company Limited. "Krispy Kreme is very popular in Japan, South Korea and the Philippines, and we expect Krispy Kreme to be well received in Thailand as the Thai people are very fond of sweets, and believe in the concept of sharing and generosity. We are pleased to enter into a franchise relationship with Krispy Kreme."
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.
KDN Company Limited is majority owned and controlled by Ms. Ausanee Mahagitsiri. Ms. Mahagitsiri and her family own and operate the PM Group, one of Thailand's largest conglomerates. PM Group interests include Biaxially Oriented Polypropylene (BOPP) film, cold rolled stainless steel, golf courses/resorts, real estate development and instant coffee in partnership with Nestle under the "Nescafe" trademark in Thailand.
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. Visit us at www.KrispyKreme.com.
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