Industry News | August 3, 2011

Krystal Explores Possible Sale

The Krystal Company today announced that it is exploring a possible sale of the company.

It operates 364 company-owned and franchised restaurants in 11 states across the Southeast.

Piper Jaffray Companies, a middle-market investment bank, has been engaged to assist in the process.

“Having seen the company through significant growth since 1997, the board feels that now is the appropriate time to seek a new investor to help take the company to the next level,” says Fred Exum, president and CEO of the Krystal Company.

“The brand is well-positioned to continue its momentum and further leverage its historical equity and strong operational performance, presenting a compelling opportunity for a new financial sponsor.

“We have been extremely successful over the last 14 years, which is primarily due to the hard work of all levels of our management team,” Exum says.

“This is an exciting time for the entire family of Krystal stakeholders, over 7,000 employees and our franchisees. The target is to deliver an attractive exit for current shareholders who have been tremendously supportive over the past fourteen years, while also establishing a solid platform for our employees to further expand the brand by continuing to serve our loyal customers.”

The brand, made famous by its small burgers, was established in 1932 and is headquartered in Chattanooga, Tennessee. 


This is the most racist company I have ever worked for.... It starts with Fred Exum and Mike Bass...There is a whole list of inside information that I would love to share about the two main offenders of several EEOC violations but I am currently in the process of a law suit. Then you have Howard Nelson, President of OPS. Check out his facebook. Not one person of color. And most of his friends have direct relationship with races chat room and clubs. Just because he is smart enough to not apply directly to those sights doesn't mean he isn't involved.They have lost several multi unit managers as well as Director of HR, Director of Area Operations and several district managers etc.... HR director left right after a long drawn out law suit (By the way they lost $800K+) to a former Director of Area Operation for wrongful termination because he is the one that hired me and told Knoxville was not ready for a BLACK District manager. Any company considering buying The Krystal Company Know What Youre Getting

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