May 25, 2020
Fortress Investment Group, an affiliate of Japan-based multinational holding company SoftBank Group has agreed to acquire Dunwoody-based fast food restaurant chain Krystal. The purchase price was not disclosed.
In January, Krystal filed for Chaper 11 bankruptcy protection. At the time, it operated 182 restaurants across nine states, Georgia, Tennessee, Alabama, Florida, Kentucky, Mississippi, North Carolina, South Carolina and Arkansas. In addition, franchisees own and operate 116 Krystal restaurants.
The company, which is now headquartered in the Atlanta suburb of Dunwoody, was founded in Chattanooga in 1932, and is the oldest quick-service restaurant in the South and the second oldest in the United States.
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