Krispy Kreme Announces Development Agreement for Houston
WINSTON-SALEM, N.C., Dec. 2, 2013 /PRNewswire/ -- Krispy Kreme (NYSE: KKD) announced today that it has signed a development agreement with Dulce Restaurants, LLC, to develop 10 new Krispy Kreme shops in Houston over the next five years.
Dulce Restaurants, LLC, a subsidiary of Dallas-based Sun Holdings, LLC, currently operates three Krispy Kreme locations in Dallas, and has plans to open an additional 15 Dallas shops through 2018.
"Seeing the response and admiration for Krispy Kreme and our Original Glazed® doughnuts in Dallas has been a rewarding experience for me and my team," said Guillermo Perales, President and CEO of Sun Holdings, LLC. "With our plans to continue developing the Dallas market now finalized and underway, we are excited by the opportunity to expand our relationship with Krispy Kreme and to make our one-of-a-kind sweet treats available in Houston."
"We are thrilled that Dulce Restaurants has chosen to add portions of Houston to its development plans," said Patricia Perry, Vice President – Domestic Franchise Development at Krispy Kreme. "Mr. Perales and his team bring extensive guest relations and operational experience, as well as a longstanding and successful history in the market."
The new Houston shops will offer more than a dozen varieties of Krispy Kreme's one-of-a-kind doughnuts, including the signature hot Original Glazed®, as well as a complete menu of coffee, Krispy Kreme Chillers®, iced beverages and specialty drinks.
Krispy Kreme currently has over 240 shops in the United States, of which approximately 150 are franchised. Additionally, the Company has over 560 locations in 22 countries outside the United States, all of which are franchised.
About Sun Holdings, LLC
In 1997, Mr. Perales founded Sun Holdings, LLC, and opened his first Golden Corral restaurant. In just 16 years, Mr. Perales has guided his company through rapid growth by instilling a strong foundation for strategic business development. His expertise in restaurant operations and his development choices quickly vaulted Mr. Perales to become the largest Latino franchisee in the United States and one of the top ten in the country with almost 400 restaurants in his portfolio, including, in addition to Krispy Kreme, the Burger King, Popeye's, Arby's, CiCi's, and Golden Corral brands. The company also operates 13 T-Mobile stores.
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 can be found in over 810 locations in 23 countries around the world.
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.
SOURCE Krispy Kreme Doughnut Corporation