Krispy Kreme Plans Southern California Expansion Existing Franchise Partner Plans 20 New Shops in Next Seven Years
WINSTON-SALEM, N.C., Jan. 21, 2014 /PRNewswire/ -- Krispy Kreme (NYSE: KKD) announced today that it has signed a development agreement with existing franchisee Great Circle Family Foods, LLC, to develop 20 new doughnut shops in Southern California over the next seven years.
A Krispy Kreme franchise partner since 1998, Great Circle Family Foods currently operates 11 Krispy Kreme shops in Southern California, making it the Company's third largest domestic franchisee.
The planned shops are expected to feature Krispy Kreme's new small factory design, including a drive-thru and the Company's famous Hot Light™.
All of the planned 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.
"We are thrilled to be growing our business in Southern California," said Roger Glickman, Chief Executive Officer of Great Circle Family Foods. "This commitment for an additional 20 stores is a reflection of our success with the Krispy Kreme brand, our outstanding, system-leading same store sales growth, and our confidence in the small factory shop model."
"The Great Circle Family Foods team has worked tirelessly to develop an outstanding franchise operation, and has a proven track record of delivering high quality sweet treats and exceptional customer service to their guests," said Patricia Perry, Vice President – Domestic Franchise Development at Krispy Kreme. "We are delighted to solidify our mutual commitment to making the Krispy Kreme brand even more accessible to our Southern California fans."
About Great Circle Family Foods
Great Circle Family Foods, LLC, a Long Beach based company, has been the exclusive operator of Krispy Kreme franchise shops in Southern California since 1998.
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 800 locations in more than 20 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