The Krystal Co. is set to double the number of restaurants it owns or franchises to 760 over the next five years, but much of that growth could happen under new ownership if a planned sale goes forward by the end of 2011, officials said.
“We’re halfway through the [sale] process,” said CEO Fred Exum. “The plan is to complete the process by the end of the year.”
Exum said the chain’s expansion in the Southeast, what he calls its “heritage market,” had “nothing to do” with prepping the burger chain for a potential buyer.
Instead, it has everything to do with modernizing Krystal’s stable of older restaurants and shifting stores to more profitable locations — a process that has been under way for several years, Exum said.