WINSTON-SALEM, N.C. - March 4, 2013 // PRNewswire // - Krispy Kreme Doughnut Corporation announced today that it has entered into an agreement with Huan Hsin Co., Ltd. for the development of 10 Krispy Kreme franchise locations in Taiwan over the next five years. Huan Hsin Co., Ltd. has been doing business in Taiwan, Malaysia, and China for the past 30 years with a portfolio of businesses in the restaurant sector, food processing and importation, and electronics manufacturing.
"We are excited to partner with Huan Hsin Co., Ltd. in bringing the one-of-a-kind Krispy Kreme taste and experience to the people of Taiwan," said Jeff Welch, Krispy Kreme President, International. "Hung Chun Hsu and Cheng Chien Hsu have significant experience in the retail food business in China that they will be able to apply in Taiwan. Their passion for customer service and knowledge of the Taiwanese customer are important assets as they bring the melt-in-your-mouth Krispy Kreme experience to the market."
"We are very excited and proud to turn on the Krispy Kreme hot light and introduce the Taiwanese consumer to the world famous Krispy Kreme doughnut brand," said Hung Chun Hsu, President of Huan Hsin Co., Ltd. "Taiwanese people have much experience with Western food and have been consuming it throughout the years. Doughnuts are very popular in Taiwan, and we expect the market to grow quickly for Krispy Kreme through our signature Original Glazed doughnut and premium coffees. We are excited to be part of the worldwide Krispy Kreme family."
The Krispy Kreme Original Glazed® doughnut can be found in over 730 locations in 22 countries, including Australia, Bahrain, Canada, China, Dominican Republic, India, 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.
Huan Hsin Co., Ltd. is a licensed franchisee of Krispy Kreme Doughnut Corporation in Taiwan, and is wholly owned and managed by Hung Chun Hsu. Mr. Hsu and his brother, Cheng Chien Hsu, own and operate a variety of restaurant concepts including approximately 90 "Super gCar" fried chicken take-out stores in Shanghai, Suzhou, and Nanjing, and four "Mr. Wish" fresh fruit/ bubble tea (pearl milk tea) shops in Shanghai. The Hsu's also operate Huan Hsin Holdings Ltd, a holding company with businesses that manufacture and supply telecommunications, IT, and consumer electronic products and components to original equipment manufacturers.
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. Connect with Krispy Kreme at krispykreme.com and on Facebook, Foursquare, Twitter and YouTube.
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," "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 new 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; 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
Brian K. Little