WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts Corp. has signed an agreement with Bogota, Colombia-based IRCC Ltda., a subsidiary of the VA! Group. Under the agreement, Krispy Kreme’s first in South America, the companies will develop 25 stores in major cities throughout Colombia, including Bogota, Medellin and Barranquilla, over the next five years.

“This is a very exciting and important announcement for Krispy Kreme as we enter the market in South America with IRCC, the leader and a true innovator in the Colombian food service industry,” said Jeff Welch, president of international operations at Krispy Kreme. “Colombia offers Krispy Kreme an attractive opportunity with its growing economy and long customer experience with international brands. We are confident that IRCC, with 30 years of experience delighting customers in Colombia and Latin America through their world-class brands, will be a great partner as we bring the one-of-a-kind Krispy Kreme experience to Colombia.”

Felipe Baptiste, chief executive officer of VA! Group, said adding Krispy Kreme to the market is a good fit for a region that is seeking out new and different flavors.

“We are confident that they are going to love the melt-in-your-mouth taste of a hot Original Glazed donut, and that the experience of the iconic Doughnut Theatre will bring smiles to the faces of guests of all ages,” Mr. Baptiste said. “In a market where the consumption per capita has a lot of space to grow, we are very grateful to Krispy Kreme for choosing us as its partner in developing the Krispy Kreme brand in the Colombian market.”