DAVCO RESTAURANTS, INC.
|1657 Crofton Blvd||Phone: +1-410-721-3770|
|Crofton, MD||Fax: +1-410-793-0754|
|United States||Map This Company|
|http://www.davcorestaurants.com||Hoover's coverage by Michael McLellan|
DavCo was formed in 1969 as a division of Krystal Hamgurgers, the hamburger chain launched in 1932 by R.B. Davenport and J. Glenn Sherrill. In 1976 the Davenport family acquired the franchise rights to develop
In 1983 Krystal combined DavCo with another of its restaurant chains, Po Folks, and took the firm public under the Po Folks name. True to its moniker, Po Folks filed for bankruptcy in 1987, and sold DavCo's Baltimore and Washington, DC, operations to DavCo president Ronald Kirstien and EVP Harvey Rothstein. Kirstien and Rothstein later bought back the St. Louis restaurants and continued to operate the company as DavCo.
Kirstien and Rothstein took DavCo public in 1993 and used the influx of capital to buy Southern Hospitality (operator of 38 Nashville Wendy's restaurants) in 1994. The company began franchising Friendly family-dining restaurants three years later after acquiring franchise rights in Delaware, Maryland, northern Virginia, and Washington, DC.
Believing DavCo was undervalued on Wall Street, Kirstien, Rothstein, and shareholder
The first franchisee of