Krispy Kreme announces development agreement with existing franchisee Great Circle Family Foods to develop 20 new stores in Southern California over next seven years

WINSTON-SALEM, North Carolina , January 21, 2014 (press release) – Existing Franchise Partner Plans 20 New Shops in Next Seven Years

Krispy Kreme (KKD) announced today that it has signed a development agreement with existing franchisee Great Circle Family Foods, LLC, to develop 20 new doughnut shops in Southern California over the next seven years.

A Krispy Kreme franchise partner since 1998, Great Circle Family Foods currently operates 11 Krispy Kreme shops in Southern California, making it the Company's third largest domestic franchisee.

The planned shops are expected to feature Krispy Kreme's new small factory design, including a drive-thru and the Company's famous Hot Light™.

All of the planned shops will offer more than a dozen varieties of Krispy Kreme's one-of-a-kind doughnuts, including the signature hot Original Glazed®, as well as a complete menu of coffee, Krispy Kreme Chillers®, iced beverages and specialty drinks.

"We are thrilled to be growing our business in Southern California," said Roger Glickman, Chief Executive Officer of Great Circle Family Foods. "This commitment for an additional 20 stores is a reflection of our success with the Krispy Kreme brand, our outstanding, system-leading same store sales growth, and our confidence in the small factory shop model."

"The Great Circle Family Foods team has worked tirelessly to develop an outstanding franchise operation, and has a proven track record of delivering high quality sweet treats and exceptional customer service to their guests," said Patricia Perry, Vice President – Domestic Franchise Development at Krispy Kreme. "We are delighted to solidify our mutual commitment to making the Krispy Kreme brand even more accessible to our Southern California fans."

About Great Circle Family Foods

Great Circle Family Foods, LLC, a Long Beach based company, has been the exclusive operator of Krispy Kreme franchise shops in Southern California since 1998.

About Krispy Kreme

Krispy Kreme is a global retailer of premium-quality sweet treats, including its signature Original Glazed(R) doughnut. Headquartered in Winston-Salem, N.C., the Company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937. Krispy Kreme is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. Krispy Kreme can be found in over 800 locations in more than 20 countries around the world.

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