US-based doughnut company and coffeehouse chain Krispy Kreme is set to enter the Brazilian market through a joint venture (JV) with AmPm Comestíveis.
The JV will offer fresh doughnuts to Brazilian consumers through a combination of Krispy Kreme shops and AmPm convenience stores.
Krispy Kreme’s strategic move into Brazil is anticipated to take place between the end of 2024 and early 2025, marking a significant step in its global expansion efforts.
The joint venture’s commencement is contingent on approval from the Brazilian antitrust authority.
Brazil is considered a priority growth market for Krispy Kreme following its successful launch in Paris, France, in December 2023.
Krispy Kreme chief development officer Raphael Duvivier said: “We are thrilled to share the joy that is Krispy Kreme in Brazil.
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“Our fresh doughnuts will be a great fit in a country well-known for its culture and enjoyment of sharing meals and sweets with family and friends. Each Krispy Kreme doughnut is made fresh daily, hand-crafted and hand-decorated to ensure consumers around the world come back for more.
“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.”
In November 2023, Krispy Kreme was reported to be in talks with McDonald’s to further expand their partnership in the US.
The two restaurant brands first partnered in October 2022 with McDonald’s agreement to sell three Krispy Kreme doughnuts – the original glazed, the chocolate iced sprinkled and the raspberry-filled – at nine restaurants in Louisville, Kentucky, and the surrounding areas as a small-scale test.
Krispy Kreme stated at the time of the agreement: “This is our first partnership with McDonald’s in the US as we constantly look for new ways to increase access to fresh doughnuts through our delivered fresh daily network – a key element of our omnichannel strategy to attain 50,000 points of access globally.”