Krispy Kreme, Inc. (NASDAQ: DNUT) has signed a franchise development agreement with Original Entrepreneurs LLC to open 33 shops across the New York metro area over the next five years, according to a company press release.

The new locations will be developed in New York City, Long Island, and New Jersey. Original Entrepreneurs, a franchisee that currently operates 12 Krispy Kreme shops, has been a franchisee of the brand since opening its first location in Jersey City, New Jersey, in 2017.

Krispy Kreme CEO Josh Charlesworth said the deal "reflects our focus on capital-light franchise growth" and cited the franchisee's experience operating in competitive markets.

Karl Halligan and John Mondry, principals of Original Entrepreneurs, both cited confidence in the brand and a commitment to expanding its presence across the region.

Krispy Kreme, headquartered in Charlotte, N.C., operates in more than 40 countries through doughnut shops, retail partnerships, and digital channels.