A year after an Atlanta investment firm bought the Krystal Co., the fast-food restaurant chain announced today that it has boosted sales and profits while paying down "a significant portion" of the company debt.
Argonne Capital Group bought Krystal last year and has since relocated the headquarters of the restaurant chain from Chattanooga to Atlanta. The company has revamped its senior management and advertising team, including the addition of a digital agency to promote the iconic brand.
Fitzgerald + CO of Atlanta taking the lead as advertising and brand agency while Bright Red of Tallahassee, FL is on point for all social media and digital marketing.
Krystal has a target of having 500 stores in place within the next four years. The company is celebrating the opening of its newest restaurant today at 5703 Alabama Highway in Ringgold, Ga.
"Even though our brand is celebrating our 80th anniversary, we're applying a fresh perspective to all areas of our business," Krystal CEO Doug Pendergast said in a statement. "However, it doesn't mean we're changing everything. We're recommitting ourselves to the founding principles of the brand as captured in our Krystal Kreed."
Michael Klump, founder and CEO of Argonne Capital, said Krystal's "positive steps taken by this team have been outstanding." Krystal recently restarted franchise development efforts for the first time since 2006.
"The company is enjoying the largest single-year increase in customer value scores in the history of the brand," Klump said.