Freddy's Largest Franchisee Expands
JRI Hospitality, already the largest franchisee of Freddy's Frozen Custard & Steakburgers, is adding another 43 locations by acquiring HCI Hospitality. The deal expands JRI's portfolio to over 130 Freddy's restaurants across 18 states.
The acquisition solidifies JRI Hospitality's position as a dominant force within the Freddy's system, a brand that has grown to over 560 locations since its founding in Wichita, Kansas, in 2002. The fast-casual restaurant, known for its steakburgers and frozen custard, was co-founded by brothers Bill and Randy Simon and their business partner Scott Redler, and named after the Simon brothers' father, Freddy Simon, a World War II veteran. JRI Hospitality, founded by Jason Ingermanson in 2011, has a history of aggressive growth. Prior to this major acquisition, the company had been steadily increasing its portfolio, including the purchase of four Freddy's locations in Pennsylvania. This latest deal with HCI Hospitality marks a significant acceleration of that expansion strategy. The seller, HCI Hospitality, also has deep roots with the Freddy's brand, having opened its first location in Junction City, Kansas, on July 14, 2010. Led by CEO Cameron Blakely, HCI expanded the Freddy's footprint across states like Nebraska, Iowa, Texas, and the Carolinas. Beyond its extensive Freddy's holdings, Salina, Kansas-based JRI Hospitality, under the leadership of CEO Jason Ingermanson, operates a diverse portfolio of restaurant concepts. This includes Mokas Coffee & Eatery, The Original Grande, and Chompie's. Ingermanson's company has also ventured into other areas of hospitality, including the purchase and renovation of the historic Salina Country Club. The Freddy's brand itself has ambitious growth plans, aiming to reach 800 locations by 2026 and potentially over 3,000 in the long term. The brand's expansion strategy includes both domestic and international growth, with plans to open locations in Canada, Europe, the Philippines, and Mexico. This franchisee-to-franchisee acquisition reflects a broader trend of consolidation and growth within successful fast-casual brands. The deal not only expands JRI's geographical reach across 18 states but also underscores the significant role large, multi-unit operators play in the continued expansion of the Freddy's Frozen Custard & Steakburgers brand.
