Freddy’s Has New Owner

Freddy’s (Wichita, Kansas) has been acquired by Rhône, a private-equity firm. The seller was Thompson Street Capital Partners, which had acquired the chain in 2020. Terms of the deal were not disclosed.

“This acquisition marks a pivotal moment for Freddy’s,” said Chris Dull, President and CEO of Freddy’s, who will stay in his post after the change, along with the rest of the chain’s executive team. “Over the last few years, we’ve seen steady growth and surpassed many milestones for our brand, while simultaneously strengthening our franchise system and building a loyal guest following. We’re excited to take our success to the next level with this new partnership with Rhône. Together, we look forward to unlocking even greater opportunities for the Freddy’s franchise family.”

Said Rhône Managing Director Lucas Flynn: “Rhône looks forward to bringing its experience with global consumer brands to its most recent investment in Freddy’s as the company expands its footprint and further improves its guest experience. We see a compelling opportunity to partner with Chris and the rest of the leadership team to help bring the unique Freddy’s offering to more customers around the world and support the company in this next chapter of growth.”

The Freddy’s fast-casual concept – known for its made-to-order steakburgers, shoestring fries and fresh-churned frozen custard treats – currently has 550-plus locations in the U.S. and Canada, generating more than $1 billion in systemwide sales in the past year.