Krispy Kreme to Expand in the United Kingdom
WINSTON-SALEM, N.C., Oct. 17, 2011 /PRNewswire via COMTEX/ -- Krispy Kreme Doughnut Corporation announced today that it has signed a new development agreement with its franchisee in the United Kingdom, Krispy Kreme UK, Ltd., under which the franchisee has agreed to open an additional 35 locations in the UK over the next six years. Krispy Kreme UK, Ltd. currently operates 45 doughnut shops across the country.
"There is a lot of excitement and energy around the Krispy Kreme brand and our products in the UK," said Jeff Welch, Krispy Kreme President, International. "Our franchise partners in the UK are seasoned operators and we look forward to continued success in that market."
Richard Cheshire, Joint Managing Director, Krispy Kreme UK, Ltd., commented, "We continue to be delighted by and hugely appreciative of the UK's passion for Krispy Kreme. We have worked hard over the last eight years to successfully grow the brand here and now look forward to building on that success in the future by bringing the Krispy Kreme experience to more people in more places across the country."
Currently, the Krispy Kreme Original Glazed® doughnut can be found in over 660 stores in 21 countries, including Australia, Bahrain, Canada, China, Dominican Republic, Indonesia, Japan, Kuwait, Lebanon, Malaysia, Mexico, the Philippines, Puerto Rico, the Republic of Korea, Qatar, the Kingdom of Saudi Arabia, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.
About Krispy Kreme UK, LTD.
Krispy Kreme UK, Ltd is the licensed franchisee of Krispy Kreme Doughnut Corporation for the United Kingdom and Ireland. The company currently operates 45 Krispy Kreme shops and serves over 300 off premises locations. Visit Krispy Kreme UK at www.krispykreme.co.uk.
About Krispy Kreme
Krispy Kreme (NYSE: KKD) is a leading branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, NC, the Company has offered the highest quality doughnuts and great tasting coffee since it was founded in 1937. Visit us at www.krispykreme.com.
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," "could," "will," "should," "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 new domestic operating model; 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 off-premises customers; our ability to protect our trademarks and trade secrets; restrictions on our operations and compliance with covenants contained in our secured credit facilities; 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; and increased costs or other effects of new government regulations relating to healthcare benefits. 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 and developments 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.
SOURCE Krispy Kreme Doughnut Corporation