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.