Atlanta — The Krystal Company has hired two senior executives with extensive QSR experience to lead its ongoing revitalization plan. Tim Ward fills the newly created position of president and chief operating officer, and Bruce Vermilyea joins the brand as chief financial officer. Ward joins Krystal from Captain D’s where he served as chief operating officer. During his tenure with Captain D’s, the company enjoyed 8 straight years of positive same-store sales and developed a pipeline of over 100 new restaurant locations. Ward held previous roles at Arby’s/RTM and NPC International/Pizza Hut. …
The Krystal Company
Krystal to Sell 100-150 Corporate Restaurants to Franchisees as Part of Brand Revitalization
by Katie Lee
Atlanta — The Krystal Company plans to refranchise approximately 100-150 company-owned restaurants to well-capitalized multi-unit operators as part of its ongoing business and fleet revitalization. To that end, Krystal has engaged The Cypress Group, a specialized investment banking firm, to manage the refranchising initiative. Restaurants in Alabama, Florida, Georgia, Mississippi and Tennessee will be refranchised. “We’re ready for the next step in the brand transformation that began when I came on board in 2018,” says Paul Macaluso, Krystal’s president and CEO. “We’ve seen great success with the new restaurant prototype, remodels and …