Krispy Kreme Signs New Development Agreements for Japan
WINSTON-SALEM, N.C., Aug. 24, 2011 /PRNewswire/ -- Krispy Kreme Doughnut Corporation today announced that it has signed new development agreements with its Japanese franchisee, Krispy Kreme Doughnut Japan Co., Ltd., pursuant to which the franchisee has agreed to build 73 new locations in the Kanto, Kansai and Chubu regions of Japan over the next five years.
"We are delighted to extend our relationship with Krispy Kreme Doughnut Japan Co., Ltd., which has been our franchise partner since 2006," said Jeff Welch, Krispy Kreme President, International. "They are an outstanding operator, and we look forward to a continued association with them as they share the one-of-a-kind Krispy Kreme experience with consumers in Japan."
"Growing our partnership with Krispy Kreme and being part of their international expansion is very exciting to us," said Shinichi Uetadani, CEO of Krispy Kreme Doughnut Japan Co., Ltd. "The Krispy Kreme brand is well-known around the world for great tasting and unique products. We look forward to continuing our development in these important regions."
"We are excited about our continued growth in Japan and other international markets," Mr. Welch continued. "Today's announcement, together with a new commitment for 70 additional stores by our franchisee in Mexico, adds 143 new Krispy Kreme stores to our international development pipeline for the next five years."
Currently, the Krispy Kreme Original Glazed® doughnut can be found in over 650 stores in 21 countries, including the United States, 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, and the United Kingdom.
About Krispy Kreme Doughnut Japan Co., Ltd.
Krispy Kreme Doughnut Japan Co., Ltd. is a licensed franchisee of Krispy Kreme Doughnut Corporation. Visit Krispy Kreme Doughnut Japan at http://krispykreme.jp/.
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. Today, Krispy Kreme shops can be found in over 650 locations in 21 countries around the world. 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