Krystal Co., which opened a new South Broad Street restaurant in October, is up for sale. Investors who bought the fast-food chain in 1997 want to cash in on their investment.Three of Chattanooga’s best-known nameplates were on the sales block during 2011, but as the year ended Saturday only one has a new owner.
Olan Mills, once America’s largest portrait studio whose name was stamped on millions of its photographs, was acquired by rival Lifetouch in Chattanooga’s biggest business deal of the year.
But in a year that brought local hospital and grocery mergers, realignments of health insurers and the sale of many distressed properties, the Krystal Co. and the Chattanooga Lookouts are still up for sale.
The new year is expected to bring new owners for both the Krystal restaurant chain and Chattanooga’s minor league baseball team, according to people marketing the companies.
And as the economy improves, experts predict there should be more mergers, acquisitions and initial stock offerings.