Krystal’s Chattanooga headquartersCompany at a glanceName: Krystal Co.Owner: Argonne Capital Group, a private equity firm in AtlantaUnits: 350, including 210 company-owned stores, in 11 states.Local presence: 20 area restaurants, 60-employee headquarters downtownAnnual sales: $400 million of system sales, $300 million of direct salesStaff: 6,000 employeesHistory: Founded in Chattanooga in 1932, the nation’s second-oldest fast-food chain behind only White CastleKrystal timeline1932 – The first Krystal opens on the corner of Cherry and Seventh streets in downtown Chattanooga selling small, square hamburgers for 5 cents each.1941 – The company grows to 33 restaurants in Tennessee, Georgia and Alabama1950s – Company adds drive-through window1965 – Krystal opens 100th restaurant1978 – Krystal reaches more than 5,700 employees1982 – Present logo is launched1992 – Krystal becomes publicly traded company on the Nasdaq Exchange1997 – Krystal files for bankruptcy and is acquired by Port Royal Holdings in a $145 million deal2003 – Fred Exum takes over as CEO2012 – Argonne Capital Group buys Krystal in $175 million deal. Doug Pendergast is named CEO.2013 – Krystal headquarters will move from Chattanooga to Atlanta.
One of Chattanooga’s best-known corporate icons is headed south.
As the Krystal Co. celebrates its 80th year in the Scenic City this year, executives on Wednesday announced that Krystal is preparing to leave the city of its birth next year.
Krystal CEO Doug Pendergast, who took over shortly after the company was sold to an Atlanta-based investment group in March, said moving the headquarters to Atlanta will put Krystal executives closer to more restaurants and improve air service to its units.
There are 350 Krystal restaurants located across 11 Southern states.