News

Krystal seeking possible sale

August 3, 2011

Chattanooga, Tenn.-based Krystal is seeking potential buyers for the 364-unit burger chain.

According to the Times Free Press, The Krystal Co. has retained investment firm Piper Jaffray to explore sale options and move the company forward.

CEO Fred Exum told the newspaper that the objective is to expand the brand while maintaining its loyal fan base.

Krystal was founded in 1932 and purchased by Port Royal Holdings in 1997. Exum said the company has experienced significant growth for the past 14 years, which positions it well for potential buyers.

From the story:

"The target is to deliver an attractive exit for current shareholders who have been tremendously supportive over the past 14 years ..." Exum said. "Krystal is growing and we are excited about the future opportunities for the brand."

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