Krispy Kreme Doughnuts has signed a development agreement with Inversiones DBA-KKD de Costa Rica (Inversiones) to open ten Krispy Kreme stores in Costa Rica over the next five years.

Krispy Kreme Doughnuts senior vice-president and international president Dan Beem said: "Costa Rica’s rapid market growth and consumer demand for sweet treats makes this the perfect time for Krispy Kreme to expand in the country."

"Costa Rica’s rapid market growth and consumer demand for sweet treats makes this the perfect time for Krispy Kreme to expand in the country."

The key owner of Inversiones is Desarollo de Negocios Internationales, and partly owned by 2.5 Investments.

Desarollo de Negocios Internationales managing director Miguel Hernandez said: “We are happy to bring the joy of Krispy Kreme to Costa Rica.

“Once people try our doughnuts, they will not believe how long they have lived without having a freshly made Original Glazed doughnut.”

Krispy Kreme Doughnuts is a global retailer of sweet treats and headquartered in Winston-Salem, North Carolina, US.

It has more than 1,000 retail shops in 27 countries.