Krispy Kreme Announces Development Deal to Expand Across the New York Metro Area

Long-time franchisee commits to open more than 30 shops over the next five years

Supports sustainable, profitable growth through capital-light franchise expansion

CHARLOTTE, N.C.--(BUSINESS WIRE)--Krispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme”, “KKI”, or the “Company”) today announced a franchise development agreement with Original Entrepreneurs LLC (“Original Entrepreneurs”) to open 33 Krispy Kreme shops across the New York metro area over the next five years, expanding the brand's presence in one of the country's largest consumer markets.

The shops will be developed in New York City and the surrounding region, including Long Island and New Jersey. The Original Entrepreneurs group, a long-time Krispy Kreme franchisee and experienced quick-service restaurant operator, currently operates 12 Krispy Kreme shops.

“We're pleased to continue growing with Original Entrepreneurs,” said Krispy Kreme CEO Josh Charlesworth. “This development agreement reflects our focus on capital-light franchise growth and enables us to expand with an operator that has deep expertise building and operating Krispy Kreme shops in a competitive market.”

“We're proud of our long-standing relationship with Krispy Kreme and confident in the strength of the brand,” said Karl Halligan, Principal of Original Entrepreneurs.

“We look forward to building on that relationship and continuing to expand Krispy Kreme’s presence across the New York metro area,” said John Mondry, Principal of Original Entrepreneurs.

About Krispy Kreme

Headquartered in Charlotte, N.C., Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world. Our iconic Original Glazed® doughnut is universally recognized for its hot-off-the-line, melt-in-your-mouth experience. Krispy Kreme operates in more than 40 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing digital business. Our purpose of touching and enhancing lives through the joy that is Krispy Kreme guides how we operate every day and is reflected in the love we have for our people, our communities and the planet. Connect with Krispy Kreme Doughnuts at www.KrispyKreme.com, or on one of its many social media channels, including www.Facebook.com/KrispyKreme and www.X.com/KrispyKreme.

About Original Entrepreneurs

Headquartered in Jersey City, New Jersey, Original Entrepreneurs opened its first Krispy Kreme Hot Light Theater shop in 2017 and has since expanded across New Jersey and New York. Following its initial Jersey City opening, the company added locations in Springfield, East Rutherford, Paramus and Lakewood, New Jersey, before entering the New York market. With a focus on strategic expansion, customer service and convenient access to fresh Krispy Kreme doughnuts, Original Entrepreneurs continues to grow its presence across the region.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including with relation to the Company's business, prospects, future plans and strategies, and growth. Forward-looking statements can be identified by the use of forward-looking terminology, including terms such as “will,” “continue,” or comparable terminology. Forward-looking statements are not a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Many factors could cause our actual results to differ materially from those contained in forward-looking statements including, without limitation: food safety issues, including risks of food-borne illnesses, tampering, contamination, and cross-contamination; impacts from any material failure, inadequacy, or interruption of our information technology systems, including breaches or failures of such systems or other cybersecurity or data security-related incidents; our ability to execute our business strategy, including our turnaround plan and growth through international development with strategic partners and profitable expansion of our fresh delivery and digital channels; our ability to realize the anticipated benefits from past or potential future strategic transactions (including refranchising); failure by our franchisees, subfranchisees, or third-party service providers to operate effectively and in compliance with our standards and applicable law; any harm to our reputation or brand image; negative impacts on our business due to changes in consumer spending habits, consumer preferences, or demographic trends; our ability to open new and maintain existing shops and points of access both domestically and internationally; disruptions to our and our franchisees’ supply chain, including the loss of or failure to perform by single-source or limited suppliers, vendors, distributors, or manufacturers; our significant indebtedness and our ability to meet the financial and other covenants under our credit facilities; changes in the cost of raw materials and fuel or other commodities, including due to import and export requirements (including tariffs), inflation, fluctuations in foreign exchange rates, or heightened geopolitical tensions (including the recent Iran conflict); our ability to recruit and retain key personnel; failure to develop or maintain effective internal control over financial reporting or disclosure controls and procedures; adverse regulatory actions or publicity concerning food or occupational safety, food quality, health, and other issues or regulatory investigations, enforcement actions, or material litigation; and other risks and uncertainties described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 28, 2025 filed by the Company with the Securities and Exchange Commission (the “SEC”) and in other filings the Company makes from time to time with the SEC. These forward-looking statements are made only as of the date of this document, and we undertake no obligation to publicly update or revise any forward-looking statement whether as a result of new information, future events, or otherwise, except as may be required by law.

Investor Relations
Steve West, VP of Investor Relations
swest@krispykreme.com

Media
ICR for Krispy Kreme, Inc.
krispykreme@icrinc.com