Brazil-based convenience store chain AmPm Comestíveis and American donut company and coffeehouse chain Krispy Kreme have announced a joint venture (JV) agreement.
Krispy Kreme will leverage AmPm’s existing infrastructure and customer base to reach a wider consumer base in Brazil and continue its expansion into South America.
The partnership will see the distribution of Krispy Kreme’s products through a combination of the donut company’s namesake shops and AmPm convenience stores across the country.
This strategic distribution approach will offer Brazilian customers with easy accessibility to Krispy Kreme’s products while ensuring convenience.
Krispy Kreme plans to commence operations in Brazil between late 2024 and early 2025.
The JV, subject to approval from the Brazilian antitrust authority, marks Krispy Kreme’s expansion into the country.
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It follows the donut brand’s successful launch in Paris in December 2023.
Krispy Kreme chief development officer Raphael Duvivier stated: “We are thrilled to share the joy that is Krispy Kreme in Brazil. Our fresh donuts will be a great fit in a country well-known for its culture and enjoyment of sharing meals and sweets with family and friends.
“In addition, we are very pleased to partner with AmPm. They have built a strong retail presence along with deep experience for iconic brands like ours.”
Headquartered in Charlotte, North Carolina, Krispy Kreme operates in 35 countries through fresh donut shops, partnerships with leading retailers and e-commerce.
In South America, the company already has a presence in Bogota, Colombia.
In its third quarter 2023 results, the company announced that it expected to open in Ecuador and France in the fourth quarter.
These locations take its new market openings to seven in 2023.