Krispy Kreme Doughnut Corporation announced today that it has signed a development agreement for Russia with LLC Doughnuts Cafe, wholly owned and operated by Arkady Novikov, owner of the Novikov Restaurant Group. As part of the new agreement, the franchisee is expected to build 40 Krispy Kreme shops throughout the next five years in Moscow.

"We are very excited to work with Arkady Novikov, someone so instrumental in the development of today's vibrant restaurant culture in Moscow," said Jeff Welch, Krispy Kreme president, International. "Arkady's great passion for the Krispy Kreme brand, combined with his strong organizational structure and years of successful restaurant experience in Moscow, are strong assets he can leverage as we launch the brand in Russia. We look forward to a long relationship with Krispy Kreme fans in Moscow."

The Novikov Restaurant Group includes a variety of businesses located in Moscow and St. Petersburg, Russia, and London. including more than 40 stand-alone family and fine dining restaurants, plus the casual dining chains Barashka, Kish Mish, Delis Cafe and Prime Star. In addition, the Novikov Restaurant Group owns and operates the karaoke bar Krik, seafood supplier NRG, agricultural enterprise Agronom, florist chain Flower Studio 55, professional catering company Novikov Catering, luxury real estate firm Mainstreet and the balanced food project Just for You.

"I am grateful to Krispy Kreme for their choice of us as partners in development of the brand in Moscow," Novikov said. "Our team is excited to bring this iconic brand to Moscow and share the world famous melt-in-your-mouth taste of Krispy Kreme's signature doughnuts and beverages with the Russian consumer. We believe Krispy Kreme's premium products and one-of-a-kind experience will quickly become a favorite of Muscovites."

Krispy Kreme includes 690 stores in 21 countries.

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