WINSTON-SALEM, N.C. (AP) — Krispy Kreme Doughnut Corp. said Wednesday that it reached a deal with Citymax Hotels Pvt. Ltd. for the development of 80 Krispy Kreme franchise stores over the next five years in India.
Financial terms were not disclosed. The stores will be located across the south and west regions of India, the Winston-Salem, N.C.-based company said.
Citymax Hotels is part of Dubai-based Landmark Group, one of the largest retailers in India and the Middle East. It operates food and beverage businesses, along with entertainment centers, Krispy Kreme said.
Krispy Kreme donuts are currently sold in more than 690 stores in 21 countries.
Last month, the company announced plans to open 35 of its stores in India over the next five years under a development deal with Bedrock Food Co. Those stores will open in various locations, including Delhi, Jaipur and Lucknow, the company said.
Krispy Kreme shares fell 1 cent to $6.15 in afternoon trading.