Krispy Kreme Doughnuts Inc. (NYSE: KKD – News) announced today that it has entered into a franchise agreement with Berjaya Krispy Kreme Doughnuts Sdn Bhd in Malaysia for the development of approximately 20 Krispy Kreme retail shops over the next five years. Berjaya Krispy Kreme Doughnuts Sdn Bhd is a 70 percent owned subsidiary of Berjaya Corporation Berhad (BCorporation).
“Having a well respected franchisee like BCorporation introduce Krispy Kreme in Malaysia is an exciting opportunity,” says Jeff Welch, senior vice president and general manager of global franchise operations and development for Krispy Kreme. “BCorporation has significant franchise experience in Malaysia.”
“The addition of Krispy Kreme will strategically complement and widen BCorporation’s existing food and beverage operations,” says Tan Sri Dato’ Seri Vincent Tan, chairman and CEO of BCorporation. “We are delighted to enter into a franchise relationship with Krispy Kreme and be part of their international expansion in Asia. Krispy Kreme is very popular in Japan, South Korea, and Philippines and we expect Krispy Kreme to do well in Malaysia as well.”
The Krispy Kreme hot Original Glazed doughnut can now be found in 14 countries, including the U.S., Australia, Canada, Hong Kong, Indonesia, Japan, Kuwait, Mexico, the Philippines, the Republic of South Korea, Qatar, the Kingdom of Saudi Arabia, the United Arab Emirates, and the United Kingdom.
Berjaya Corporation Berhad is a major Malaysian conglomerate listed on the Malaysian Stock Exchange, Bursa Malaysia Securities Berhad. Berjaya holds the Starbucks, Wendy’s, Kenny Rogers Roasters, and Papa John’s Pizza franchises in Malaysia.