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Atlanta & Southeast  |  May 25, 2020
David Cohen
By: David Cohen

SoftBank Affiliate Acquires Dunwoody-Based Krystal Restaurants

Fortress Investment Group, an affiliate of Japan-based multinational holding company SoftBank Group has agreed to acquire Dunwoody-based fast food restaurant chain Krystal. The purchase price was not disclosed.

In January, Krystal filed for Chaper 11 bankruptcy protection. At the time, it operated 182 restaurants across nine states, Georgia, Tennessee, Alabama, Florida, Kentucky, Mississippi, North Carolina, South Carolina and Arkansas. In addition, franchisees own and operate 116 Krystal restaurants.

The company, which is now headquartered in the Atlanta suburb of Dunwoody, was founded in Chattanooga in 1932, and is the oldest quick-service restaurant in the South and the second oldest in the United States.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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