Krispy Kreme Doughnuts, Inc. (NYSE:KKD) announced today that it has entered into a franchise agreement with Almana Yiyecek Ve Icecek San. Ve. Tic, Ltd, STI (part of the Almana Group) for the development of approximately 25 Krispy Kreme retail locations over the next five years in Istanbul, The Republic of Turkey (Turkey).
"We are extremely pleased to be working with the Almana Group, an experienced QSR franchisee that operates KFC and Pizza Hut restaurants in Turkey, to establish Krispy Kreme in Istanbul," said Jeff Welch, Senior Vice President and General Manager of Global Franchise Operations and Development for Krispy Kreme. "We're confident that the Almana Group, with their extensive restaurant experience, is uniquely qualified to introduce Krispy Kreme in this important marketplace."
"We are excited to bring the world famous Krispy Kreme hot doughnut experience to our customers in Turkey," said Bader Almana, General Manager of the Almana Group. "We are impressed with the strength of the brand and expect that the quality Krispy Kreme products which we will offer to consumers in Turkey will be very much appreciated. We hope to establish Krispy Kreme as a new trend for our broad customer base in Istanbul."
Approximately 75% of Krispy Kreme's total stores are operated by franchisees, and half are located outside the US. Currently, the Krispy Kreme hot Original Glazed(R) doughnut can be found in 14 countries, including the United States, Australia, Canada, Hong Kong, Indonesia, Japan, Kuwait, Mexico, the Philippines, the Republic of South Korea, Qatar, the Kingdom of Saudi Arabia, the United Arab Emirates, and the United Kingdom.
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