Krispy Kreme announced today that it has signed a multiyear development agreement for the Guangdong Province of China with Haiya Group. Under the agreement, Krispy Kreme's newest international franchise partner expects to develop 23 stores throughout the next five years.

"Haiya Group is one of the leading retail companies in Guangdong and has been operating a variety of successful retail businesses in Guangdong for more than 20 years. We are pleased to welcome Haiya Group to the Krispy Kreme family," Krispy Kreme President-International Jeff Welch said in a news release. "Guangdong is the largest consumer market in China, and we believe Haiya Group's unique and sound understanding of the Chinese consumer will be a vital asset in successfully establishing and building the Krispy Kreme brand throughout this important province."

Krispy Kreme has more than 800 retail shops in more than 20 countries in North America, Latin America, Asia/Pacific, the Middle East and Europe.

Haiya Group, founded in 1991, operates a number of retail concepts including Haiya Restaurant and Haiya's Golden Dragon Restaurant.

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