Krispy Kreme (DNUT) Launches Expansion into Brazil

Krispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme”, “KKI” or the “Company”) today announced its official launch into Brazil, marking a milestone in the brand’s global expansion. The Company will open its first shop through a minority interest joint venture with Ipiranga’s AmPm in the busy Avenida Juscelino Kubitschek neighborhood in São Paulo in late April. Krispy Kreme’s market entry will be carried out through its capital-light franchise strategy in partnership with Ipiranga’s AmPm, the largest chain of convenience stores in Brazil, to bring Krispy Kreme’s beloved doughnuts to Brazilian consumers.

“We are thrilled to bring Krispy Kreme’s iconic, fresh made doughnuts to Brazil as part of our strategy to become a bigger and better Krispy Kreme. Our beloved doughnuts are renowned worldwide, and now Brazilians will be able to enjoy the signature high quality and delicious flavors that Krispy Kreme offers,” said Raphael Duvivier, President, International for Krispy Kreme. “Our partnership with AmPm is a key step in the expansion of our capital-light international franchise model, enabling us to bring fresh Krispy Kreme doughnuts to more markets and consumers around the world. By leveraging AmPm’s extensive convenience store chain to solidify our footprint in Brazil, we will scale more efficiently while staying focused on sustainable and profitable growth.”

As previously announced in February 2024, Krispy Kreme is entering Brazil through a minority interest joint venture with AmPm. The partnership will utilize AmPm’s extensive network of approximately 1,500 retail locations across all regions of the country, beginning with the opening of the first shop in São Paulo. This shop is expected to generate approximately 100 direct jobs, with plans to create more positions as the brand expands in the country. Krispy Kreme has more than 30 international franchise partners around the world, enabling the company to scale efficiently and bring its doughnuts to fans worldwide.

Renato Stefanoni, President of AmPm, commented, “AmPm is constantly evolving, bringing in new products and partnerships that not only meet, but exceed consumer expectations. By offering Krispy Kreme products in our stores we’re further expanding our portfolio with a highly differentiated and premium-quality offering.”

You May Also Be Interested In

• Deere conference call: 2027 orders up mid-single digits from last year)
• Troops Inc. disputes short-seller report amid Hong Kong court proceedings
• ACRES Commercial Realty says labor dispute is hindering hotel sale