A Houston-based investor in hundreds of restaurants and breweries has purchased Dunwoody-based Krystal Co.
SPB Hospitality has purchased 91-year-old Krystal Restaurants, which has more than 3,500 employees and runs nearly 300 restaurants across 10 states. The company was founded in Chattanooga and its headquarters was moved to metro Atlanta a decade ago.
Terms of the sale were not disclosed.
Josh Kern, SPB Hospitality’s interim chief executive, praised Krystal’s innovation and the choices in its menu, market and vision. He said that Krystal, like other brands owned by SPB, will continue to operate independently.
However, the companies owned by SPB do collaborate on strategy, he said.
SPB Hospitality owns hundreds of restaurants and breweries in 35 states and the District of Columbia. Among the company’s brands are Logan’s Roadhouse, Old Chicago Pizza & Taproom, J. Alexander’s and Stoney River Steakhouse and Grill. The company also owns a string of craft brewery restaurants, including Rock Bottom Restaurant & Brewery, Gordon Biersch Brewery Restaurant, ChopHouse & Brewery and Ragtime Tavern Seafood & Grill.
With the addition of Krystal, SPB Hospitality now has about 18,500 employees.
Krystal declared bankruptcy in early 2020 and was subsequently acquired by Golden Child Holdings, an affiliate of Fortress Investment Group, for about $48 million.
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