The Krystal Company engages in the development, operation, and franchising of quick-service restaurants in the southeastern United States. As of November 13, 2004, it had approximately 425 restaurants in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia. The company was co-founded by R. B. Davenport, Jr. and J. Glenn Sherrill in 1932 and is headquartered in Chattanooga, Tennessee. As of September 26, 1997, Krystal Company operates as a wholly owned subsidiary of Port Royal Holdings, Inc.