MRM Franchise Feed: Krystal Refranchising and Pieology in China

Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise  and MUFSO environment. 

Send news to Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com.

Krystal Eyes RefranchisingThe 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," said Paul Macaluso, Krystal president and CEO. "We've seen great success with the new restaurant prototype, remodels and operational upgrades. It's time to accelerate the redevelopment of the fleet and expand our…