Krispy Kreme awards development rights in Philippines

WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts Inc. announced it awarded development rights for the Philippines to The Real American Doughnut Company Inc., owned and operated by the principals of Max's, one of the Philippines' leading restaurant chains.

According to a news release, Krispy Kreme's development agreement with The Real American Doughnut Company Inc. calls for the development of approximately 30 locations over the next five years, with the first location scheduled to open by the end of 2006. The Real American Doughnut Company Inc. will hold a 100-percent ownership interest in the franchise.