Lay's Potato Chips was founded in 1932 by Herman W. Lay but didn't start selling it nationally until 1938 when he purchased a potato chip manufacturer company in Atlanta, Georgia.
Lay's Company was started in 1938 by Herman Lay in Nashville Tennessee. In 1961 it merged with Frito Company to create Frito Lays and in 1965 Pepsi acquired them.
Lays Potato Chips company has been around since 1932, but back then they were referred to as "Frank"s chips. They were much smaller scale back then, they've came along way since then.