WINSTON-SALEM, N.C., US – Krispy Kreme announced today that it has signed its first development agreement in South America with Bogota-based IRCC Ltda., a subsidiary of the VA! Group. Under the agreement, tKrispy Kreme expects to develop 25 stores in major cities throughout Colombia over the next five years.
“This is a very exciting and important announcement for Krispy Kreme as we enter the market in South America with IRCC, the leader and a true innovator in the Colombian food service industry,” said Jeff Welch, Krispy Kreme President— International. “Colombia offers Krispy Kreme an attractive opportunity with its growing economy and long customer experience with international brands.
We are confident that IRCC, with 30 years of experience delighting customers in Colombia and Latin America through their world-class brands, will be a great partner as we bring the one-of-a-kind Krispy Kreme experience to Colombia.”
“We are very excited to bring Krispy Kreme’s unique products and in-store experience to Colombia. As the growth of the restaurant industry continues in our country, Colombians are seeking out new and different flavors.
We are confident that they are going to love the melt-in-your-mouth taste of a hot Original Glazed® doughnut, and that the experience of the iconic Doughnut Theatre™ will bring smiles to the faces of guests of all ages,” says Felipe Baptiste, CEO of VA! Group.
“In a market where the consumption per capita has a lot of space to grow, we are very grateful to Krispy Kreme for choosing us as its partner in developing the Krispy Kreme brand in the Colombian market.”
About VA! Group and IRCC, Ltda.
VA! Group is the leading restaurant operator in Colombia in terms of sales, units and geographic coverage, with 285 units and presence in 42 cities across the country.
The VA! Group has several of the most recognizable brands in the industry, including Hamburguesas El Corral, El Corral Gourmet, and Beer Station (all part of IRCC, Ltda.) as well as Papa John’s, Lenos & Carbón, Yogen Früz, and Paneroli.
The VA! Group started operations in 1983, and today it has international operations in Ecuador, Chile, Panama and the US through a franchise model.
The Company’s multi-format strategy has allowed it to reach the most significant socioeconomic and demographic segments of the population, by offering a wide variety of value propositions to consumers eating outside their homes while also providing diversification.
The Company also has two industrial units that provide products for its restaurants business, as well as supply independent institutional clients.
About Krispy Kreme
Krispy Kreme is an international 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. Today, Krispy Kreme can be found in over 785 locations in 21 countries around the world.