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In a bid to expand its market presence in Europe, Krispy Kreme Doughnuts Inc. has decided to add five more outlets in Iceland in the next five years. Recently, company has inked a franchisee agreement Hagar verslainr ehf. and had opened its first store in Reykjavik, capital of Iceland.
Hagar verslainr ehf. is a leading retailer in the market, with core activities in the grocery sector, including the Hagkaup brand. The Krispy Kreme shop is a part of Hagkaup’s Flagship HyperMarket located in the Smáralind Mall.
Shedding some light on the agreement, Gunnar Ingi Sigursson, Hagkaup’s chief executive said that Krispy Kreme is a great addition to our Hagkaup stores in Iceland. With this addition, now the company has marked its presence in 32 international countries including United States, United Kingdom, Puerto Rico etc.
As per the company’s statement which they released in June, its delicacies will be made available on U.S. military bases in Europe through a partnership with the Army & Air Force Exchange Services. The military group’s production plant in Gruenstadt, Germany, will produce and distribute fresh products daily to troops and their families at U.S. military bases in Belgium, Bulgaria, Germany, Greece, Italy, Netherlands, Portugal, Turkey and the United Kingdom.
It is the second franchisee agreement the company has announced since it was taken private on July 27 in a US$1.35 billion sale to an affiliate of JAB Holdings Inc.
