Krispy Kreme (NYSE:KKD) announced it has signed development agreements to open 11 Krispy Kreme shops in Arkansas, Montana, Illinois and Kentucky over the next several years.
“We are excited to be able to expand our presence in these areas and do so with top-quality franchisees,” said Patricia Perry, Krispy Kreme’s Vice President, US Franchise Development. “These operators have a great deal of experience and a track-record of success. We are confident they will do an exceptional job of delivering that unique Krispy Kreme experience to a growing number of fans.”
The agreement with Dennis Porter, President of DTL of the Emerald Coast, includes four additional shops to open in Arkansas. The group opened its first shop last December. Porter has extensive QSR experience, including being part of the Sonic system for the past 24 years with six franchises.
“Our first Krispy Kreme shop opening was met with great enthusiasm,” said Porter. “The demand for Krispy Kreme’s signature sweet treats and great tasting coffee continues to grow in this area, and we have every reason to believe these new shops will meet those demands.”
The agreement with Mark Boyd, President of Sweet Treat Holdings, includes a minimum of four shops to open throughout Montana. Boyd also has extensive QSR experience as a former longtime franchisee with KFC and Burger King.
“We are excited to bring the Krispy Kreme brand to Montana and become an excellent corporate citizen,” said Boyd. “We are eager to turn on the ‘Hot Doughnuts Now’ sign and make things a little sweeter in Montana.”
Finally, the agreement with Rodney Cabaness, President of Hungry Guys, LLC, includes three shops to open in Marion, Ill. and Paducah, Ky. In addition to his other business ventures, including owning a Harley Davidson dealership and a real estate investment company, Cabaness has partnered with Eric Schneider to head operations. Schneider has 26 years of restaurant experience with Darden Restaurants.
“We have a very talented and experienced team ready to meet the expectations of Krispy Kreme fans in Marion and Paducah,” said Cabaness.