Krispy Kreme Doughnuts will bring 20 new shops to Nigeria over the next five years in its latest global push to expand its brand since being acquired by a private holding company.
The doughnut-maker made its African debut in South Africa in 2015, hoping to tap into consumer demand for popular US food brands such as Pizza Hut and Starbucks. Its move was quickly followed by rival Dunkin’ Donuts in 2016.
“The joy of a Krispy Kreme doughnut and coffee is beloved all over the world, and we cannot wait to introduce that joy to the people of Nigeria over the next several years,” said Michael McGill, Krispy Kreme’s international vice-president.
He added they were “fortunate” to work with Quality Foods Africa, a quick-service restaurant business, in entering Africa’s rapidly growing consumer market.
JAB Beech, a part of a larger holding company owned by Germany’s billionaire Reimann family, agreed to pay $1.35bn for Krispy Kreme last year following a series of acquisitions by the group in the coffee sector. After acquiring Keurig Green Mountain, Peet’s Coffee, Stumptown and Caribou Coffee over the past few years, the holding company has made a credible challenge to Nestlé, the world’s largest food company by sales, in the coffee sector.
“Nigeria is a huge market and we are truly excited about bringing the world’s best doughnuts to one of Africa’s biggest economies,” said Edmond Sassine, chief executive of Quality Foods Africa.