KremeKo Inc. (the area developer for Krispy Kreme doughnuts in all Canadian provinces, except B.C.) and The Bank of Nova Scotia settled a credit facility and security documentation to finance the construction of Krispy Kreme doughnut stores throughout Canada. KremeKo plans to open approximately 40 Krispy Kreme Hot Doughnut Factory stores and a number of satellite stores in Canada over the next six years. The deal closed on April 4, 2003 and its value is undisclosed.
KremeKo was represented by Blake, Cassels & Graydon LLP, with a team that included Rachel Ingram (business), Michael Harquail (financial services) and Silvana D’Alimonte (real property) in Toronto and James Papadimitriou (financial services and real property) in Montreal.
McCarthy Tétrault LLP acted for The Bank of Nova Scotia, with a team that included Joel Scoler (corporate finance) and Oliver Hobday (real property) in Toronto and Marc Lemieux and Mylany David (business) in Montreal.