Houston-based Shipley Do-Nuts, one of the nation's largest and fastest-growing donut brands, will expand its presence in Florida and Tennessee under a 22-unit franchise agreement with the hospitality arm of private investment platform Virentes Partners Group.
Virentes operates multiple franchise brands through its subsidiary, Virentes Hospitality. Its development agreement with Shipley is the brand's largest commitment inked in 2024.
Founded in 1936 in Houston, Shipley offers more than 60 varieties of fresh, handmade daily donuts, including its signature plain glazed, cut in the iconic Shipley hexagon shape, plus filled, iced and cake donuts, bear claws, kolaches, coffee and more.
"We exhaustively researched dozens of franchise concepts to expand our hospitality portfolio, and Shipley came out on top with craveable and highly differentiated products and an outstanding leadership team," said Virentes Managing Member and Chief Investment Officer Jim D'Aquila. "The Shipley team is committed to the brand and to franchisee success, with exceptional unit economics, a strong business model and opportunities for growth. Shipley's products are the finest in the category, and their 'Make Life Delicious' slogan rings true with the millions that have experienced the brand."
Virentes plans to open three Shipley Do-Nuts locations in 2025 in Nashville, Tennessee, and Jacksonville and Tampa, Florida. Virentes recently hired Vice President – Operations Andrew Povec to oversee operational excellence and enterprise development and has also begun hiring general managers for the first locations.
"One of our key expansion strategies has been to partner with experienced multi-unit, multi-brand operators such as Virentes, who are ready to hit the ground running to grow the Shipley brand and open units," said Shipley Senior Vice President of Franchise Development Keith Sizemore. "Their commitment to operational excellence will ensure that their locations will execute on our brand values and deliver a great product and experience to new customers."
Fast-growing Shipley topped 360 units this year and is on track to achieve back-to-back years of record openings. It has added more than 110 units to its development pipeline so far in 2024 and will enter two new states, North Carolina and Virginia, in Q1 2025.
Looking forward, Shipley is expanding nationally and has available markets in 46 states, with a focus on the Southeast.