SPAIN – Krispy Kreme, the beloved doughnut brand, has announced plans to expand into Spain through a joint venture with Glaseadas Originales.

The company aims to introduce its fresh doughnuts to Spanish consumers starting in 2025, with the opening of a Hot Light Theater Shop in Madrid.

As part of its strategic growth initiative, Krispy Kreme, which holds a minority stake in the venture, expects to establish over 500 fresh access points in major Spanish cities like Madrid, Barcelona, Valencia, and Malaga over the next five years.

This expansion is part of the brand’s larger plan to increase the global availability of its products through a capital-efficient hub-and-spoke approach.

“After a tremendous response in Europe following our successful entry into France and the announcement to open in Germany, we couldn’t be more excited to bring the Krispy Kreme experience to Spain,” said Raphael Duvivier, Chief Development Officer at Krispy Kreme.

 “We believe our fresh doughnuts will be a wonderful addition to the thriving Spanish food market.”

The move comes as Krispy Kreme continues to expand its global footprint, with operations in over 35 countries.

The company has established a wide network of fresh doughnut shops, collaborations with leading retailers, and a rapidly growing e-commerce and delivery service, boasting more than 14,000 fresh access points worldwide.

Despite facing some challenges in profitability over the last year, Krispy Kreme remains optimistic about its future growth prospects.

The company’s stock was recently upgraded from Hold to Buy by several financial institutions, reflecting their confidence in the brand’s ability to drive incremental returns on invested capital and accelerate revenue growth.

Krispy Kreme’s expansion into Spain is a strategic move that aligns with the company’s focus on its core doughnut business.

The brand has also made other notable moves, such as selling its majority stake in Insomnia Cookies to investment firms Verlinvest and Mistral Equity Partners, allowing it to concentrate on expanding its fresh doughnut offerings and reducing debt.

As Krispy Kreme prepares to bring its signature sweet treats to Spain, investors and consumers alike are eager to see how the brand will adapt to the local market and continue to spread joy through its doughnuts.

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