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“We are going to be embarking on a major expansion across the country,” says Keith Stein, chairman and partner of Krispy K Canada Inc., which is now run by partners and co-CEOs Chris Lindsay and Kelcey Hamaker.

The two CEOs have been affiliated with Krispy Kreme since its first dip into Canada’s coffee-and-doughnut loving market in 2001, as managers of stores. After the vision of original investor and CEO Roly Morris flamed out, Lindsay and Hamaker stayed on and remained in charge of operations at the handful of remaining Canadian locations. In 2008 they bought back the Canadian rights, not including B.C., for an undisclosed amount.

Stein, who came on board as an investor in 2010, had originally met with Morris 15 years ago as an interested investor, but didn’t sign on.

“I didn’t really believe in the valuation and I was a bit concerned about the initial business model, which revolved around these big factory stores,” he said, adding they cost $2 million to $3 million to build.

“The return on investment isn’t always there when you are building that sort of great, big, expensive structure.”

This time around, he says, “we are going to be playing a much more prominent role on Canadian streetscapes in the future.”