Krispy Kreme plans Southern California expansion
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."
Source: Company Press Release