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Pastimes : KKD - Krispy Kreme -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (101)	7/18/2001 1:38:08 AM
From: Jon Khymn	Read Replies (1) \| Respond to of 214

Anyone noticed KKD is buying back territories? ******** Krispy Kreme Acquires Charleston, South Carolina Market WINSTON-SALEM, N.C., July 3 /PRNewswire/ -- Krispy Kreme Doughnuts, Inc. (NYSE: KKD - news) announced today the acquisition of the Charleston, South Carolina market. The Company will purchase the rights to this market from an associate franchisee who currently operates two factory stores in that market. The Company did not disclose the purchase price but did indicate it expects the acquisition to be modestly accretive to earnings in the current fiscal year. Krispy Kreme will open a new store in the market on July 24, 2001 located at 1489 Savannah Highway, complete with the signature doughnut making theater. Scott Livengood, the Company's Chairman, CEO and President said, ``We are very excited about this acquisition. Charleston marks the second step in a series of franchise repurchases. In April, we repurchased the Savannah, Georgia market. We will evaluate the market for both retention as a company- owned operation and for refranchising to an area developer partner. For now, we will keep our options open, but would expect under any scenario to retain a significant share of this market.'' Livengood also added, ``This market, like Savannah, has been a special part of the Krispy Kreme family and heritage for over 30 years. We look forward to an even closer relationship with both our customers and the Krispy Kreme employees of Charleston.'' *** Krispy Kreme Acquires Baltimore, Maryland Market** WINSTON-SALEM, N.C., July 17 /PRNewswire/ -- Krispy Kreme Doughnuts, Inc. (NYSE: KKD - news) announced today the acquisition of the Baltimore, Maryland market. The Company has agreed to purchase the rights to this market, as well as the associated assets from an area developer franchisee who currently operates four factory stores in that market. The existing development agreement calls for six more stores in the Baltimore market. The Company did not disclose the purchase price but did indicate it expects the acquisition to be modestly accretive to earnings in the current fiscal year. Scott Livengood, the Company's Chairman, CEO and President said, ``We are very optimistic regarding the future prospects of Krispy Kreme as evidenced by our continued desire to take a significant ownership interest in our franchise markets. Our Hot Original Glazed doughnuts were introduced to Baltimore area customers in 1998 and we believe synergies exist between this market and our company-owned Washington, DC market. Baltimore marks the third in a series of franchise repurchases following the acquisition of the Savannah, Georgia and Charleston, South Carolina markets. It is our intention to retain all or a significant interest in this market.''