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Krispy Kreme announces Greater Maryland and Washington DC area development agreement

Published 10 September 2014

Krispy Kreme (KKD), today announced that it has signed an agreement with Monument Restaurants VII, LLC, a Virginia limited liability company , for the development of 20 new Krispy Kreme shops in Southern Maryland, Washington, DC , Northern Virginia and nearby counties over the next several years.

Concurrently, Monument Restaurants VII (RM), LLC acquired ownership of Krispy Kreme's existing Rockville, MD location. Krispy Kreme retains ownership of its remaining Washington, DC and Northern Virginia area locations.

"We are excited to partner with Monument Restaurants to expand the brand's presence in the Southern Maryland and Washington DC area," said Patricia Perry, Vice President -US Franchise Development at Krispy Kreme. "Tom Horton and the Monument team bring years of successful restaurant and operating experience, as well as, first-hand local knowledge of this important market."

"My partners and I were attracted to Krispy Kreme not only for the strong brand recognition it already has in this area," explained Tom Horton, a managing partner in Richmond, Va.-based Monument Restaurants, "but also because of its proven history of delivering great quality products, outstanding customer service and a unique restaurant experience to its guests. We look forward to making Krispy Kreme's signature doughnuts and coffees even more accessible to its Maryland and DC area fans."

Krispy Kreme currently has over 260 shops in the United States, of which approximately 160 are franchised. Additionally, the Company has over 590 locations in more than 20 countries outside the United States, all of which are franchised.

Source: Company Press Release