Krispy Kreme Doughnuts Inc. is expanding its reach in Africa by signing a franchise development deal in Nigeria.The privately held Winston-Salem company said the agreement with Quality Foods Africa is for 20 shops over five years."We are thrilled to be expanding into Nigeria, and we are fortunate to be working with an exceptional group," Michael McGill, Krispy Kreme's vice president of international, said in a statement. Quality Foods Africa is a quick-service restaurant business
The Federal Republic of Nigeria is the world's seventh largest country by population, at 187 million. It has the world's 20th largest economy, based primarily on oil exports."Nigeria is a huge market, and we are truly excited about bringing the world's best doughnuts to one of Africa's biggest economies," said Edmond Sassine, the franchisee's chief executive. Nigeria is the second African nation to get Krispy Kreme shops. South Africa was the first, in 2015 .It is the third franchisee agreement the company has announced since it was taken private on July 27 in a $1.35 billion sale to an affiliate of JAB Holdings Inc. The others are in Costa Rica and Iceland.
Nigeria becomes the 29th country where Krispy Kreme has international shops or franchise agreements in place. The company also has shops in Puerto Rico, a U.S. commonwealth. In June, Krispy Kreme said its delicacies will be made available on U.S. military bases in Europe through a partnership with the Army & Air Force Exchange Services. The military group's production plant in Gruenstadt, Germany, will produce and distribute fresh products daily to troops and their families at U.S. military bases in Belgium, Bulgaria, Germany, Greece, Italy, Netherlands, Portugal, Turkey and the United Kingdom.
The company said in May that it planned to open 30 new domestic shops in fiscal 2017, including 10 company shops, and between 120 and 140 international franchise shops. As of May 1, Krispy Kreme had 114 company, 183 domestic franchise and 836 international franchise shops for a total of 1,133. That was up 130 overall from a year ago.
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