- Jun 15, 2008
i know kingcrux has been planning to camp out at the mall of asia since the news of krispey kreme coming to the PI came out. i guess you'll have to wait a little longer jo, probably until the end of the year(being optimistic)
Krispy Kreme Awards Development Rights for the Philippines
Thursday July 13, 8:03 am ET
WINSTON-SALEM, N.C., July 13 /PRNewswire-FirstCall/ -- Krispy Kreme Doughnuts, Inc. (NYSE: KKD - News) announced today that it has awarded development rights for the Philippines to The Real American Doughnut Company Inc., owned and operated by the principals of Max's, one of the Philippines' leading restaurant chains.
Krispy Kreme's development agreement with The Real American Doughnut Company Inc. calls for the development of approximately 30 locations over the next five years, with the first location scheduled to open by the end of 2006. The Real American Doughnut Company Inc. will hold a 100% ownership interest in the franchise.
"We are pleased to continue expanding Krispy Kreme's international reach with our franchisee in the Philippines," said Daryl Brewster, President and Chief Executive Officer of Krispy Kreme. "We remain encouraged by the continued growth in our international markets as we move forward with the Company's turnaround."
"We are proud to partner with Max's," said Jeff Welch, Krispy Kreme's Senior Vice President of International and Development. "We believe that Max's, with over sixty years of experience operating restaurants in the Philippines, is uniquely qualified to introduce Krispy Kreme to this important marketplace."
"We are looking forward to bringing Krispy Kreme and the hot doughnut experience to our customers," said Robert Trota, President of Max's Franchising, Inc. "Since 1945, the people of the Philippines have trusted Max's and our quality food products, and we are confident that they will appreciate and embrace Krispy Kreme's wonderful products as well."
About Krispy Kreme
Founded in 1937 in Winston-Salem, North Carolina, Krispy Kreme is a leading branded retailer and wholesaler of high-quality doughnuts, including its signature Hot Original Glazed(TM). There are currently approximately 310 Krispy Kreme stores and 90 satellites operating systemwide in the United States of America, Australia, Canada, Mexico, South Korea and the United Kingdom. Krispy Kreme can be found on the Internet at www.krispykreme.com.
Founded in 1945, Max's is a leading Philippine restaurant specializing in chicken and traditional Filipino food. Max's was started by Maximo Gimenez, a Stanford-educated teacher, and became popular among American occupation troops stationed in Quezon City, Philippines after World War II. The company is known for their signature chicken dish, developed for American G.I.'s and popular among Filipino customers. There are currently approximately 118 Max's Restaurants operating in the Philippines and the United States of America.
Information contained in this press release, other than historical information, should be considered forward-looking. Forward-looking statements are subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on Krispy Kreme's operating results, performance or financial condition are the outcome of the pending formal investigation by the United States Securities and Exchange Commission and the investigation by the United States Attorney's Office for the Southern District of New York, the pending shareholder class action, the pending shareholder derivative action, the pending ERISA class action, further actions by the Special Committee, our auditors' ongoing review of our financial statements, actions taken by lenders to the Company and its joint ventures and actions taken by our franchisees, dependence on the ability of our franchisees to execute on their business plans, supply issues, changes in consumer preferences and perceptions, the failure of new products or cost saving initiatives to contribute to financial results in the timeframe or amount currently estimated and numerous other factors discussed in Krispy Kreme's periodic reports and proxy statements filed with the Securities and Exchange Commission.
Krispy Kreme Contact:
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449 ext. 154
Mindshare Global Media Agency
011 - 632 - 8857016 (Philippines)
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