Krispy Kreme donuts on rollers
Krispy Kreme plans to open 16 shops in Panama over the next five years.

WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts, Inc. has signed a development agreement with Barcenas Group International Inc. to develop 16 Krispy Kreme Doughnuts shops in Panama over the next five years.

“This agreement marks our company’s second partner in Central America and the continued growth of the Krispy Kreme Doughnuts brand in Latin America,” said Dan Beem, senior vice-president of Krispy Kreme Doughnuts and president – international. “Our partners in Panama, Barcenas Group International Inc., understand the demands of the Panamanian customer and have what it takes to create the experience enjoyed in our shops around the world. We are excited to be working with them in this new market.”

Earlier this year, Krispy Kreme detailed plans to enter Central America through a franchisee agreement for 12 shops in Guatemala. The franchisee will be Pronto, Sociedad Anónima, which committed to opening the shops over four years.

Krispy Kreme has more than 1,000 retail shops in 25 countries.