Krispy Kreme to sweeten Brazil’s market in JV with AmPm Comestíveis

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Krispy Kreme, Inc. (NASDAQ: DNUT), an iconic global brand known for its delectable, fresh, melt-in-your-mouth doughnuts, has announced an exciting joint venture with AmPm Comestíveis Ltda (AmPm), a move set to introduce one of the world’s most loved sweet treats to the Brazilian market. This strategic partnership aims to distribute Krispy Kreme’s famed doughnuts through a network of Krispy Kreme shops and AmPm convenience stores, marking a significant step in the company’s global expansion efforts.

Raphael Duvivier, Chief Development Officer at Krispy Kreme, expressed enthusiasm about entering the Brazilian market, noting the cultural alignment and the nation’s affinity for sharing meals and sweets with family and friends. “We are thrilled to share the joy that is Krispy Kreme in Brazil,” said Duvivier. “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.” This venture not only aims to introduce Krispy Kreme’s products to a new audience but also to integrate into Brazil’s vibrant food culture.

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AmPm Comestíveis Ltda, renowned for its strong retail presence in Brazil, is deemed an ideal partner for Krispy Kreme, given its experience with iconic brands and expansive retail network. “They have built a strong retail presence along with deep experience for iconic brands like ours,” Duvivier added, highlighting the strategic significance of this collaboration.

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Brazil represents a priority growth market for Krispy Kreme, following its successful launch in Paris in December 2023. The company anticipates its Brazilian debut between the end of 2024 and early 2025, subject to approval by the Brazilian antitrust authority. This move is part of Krispy Kreme’s broader strategy to make its fresh doughnuts available in more places and to continually remind people of the joy that Krispy Kreme brings, including through buzzworthy favorites like its Valentine’s Day doughnuts.

Krispy Kreme’s global presence spans more than 35 countries, achieved through a unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing e-commerce and delivery business, boasting over 13,000 fresh points of access worldwide.

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The joint venture between Krispy Kreme and AmPm Comestíveis Ltda signifies a promising venture into the Brazilian market, leveraging cultural synergies and strategic retail partnerships. This expansion is not just a testament to Krispy Kreme’s global brand strength but also to the potential of the Brazilian market to embrace international food brands. As Krispy Kreme prepares to bring its sweet treats to Brazil, the partnership with AmPm could serve as a model for successful market entry and growth in South America’s dynamic food and beverage landscape.

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