GREY:HCIZF - Post by User
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XOXOXOXOXOXOon Dec 29, 2000 12:16pm
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HCI should have stayed in the donut business
HCI should have stayed in the donut businessKrispy Kreme expands into Canada
No longer content with fattening up Americans with Hot Original Glazed doughnuts and other pastries, Krispy Kreme plans to open 32 stores in Canada, in its first international expansion.
Krispy Kreme, known for its temptingly sweet doughnuts and cult-like following, said it has formed a 34-percent owned joint venture that will open the new stores in Eastern Canada including Ontario, Quebec and the four provinces of Atlantic Canada over the next six years.
Through another 49-percent owned joint venture called New England Dough, Krispy Kreme will also open stores for the first time in Massachusetts, Rhode Island and Connecticut.
The announcement caps a year that saw a successful Nasdaq listing and opening of 36 new stores for the North Carolina-based company.
"We are extremely pleased to announce our two new partnerships. The experience, talent, and organizational infrastructure that these new relationships bring will both expand and strengthen our system," CEO Scott Livengood said in a statement.