Freddy's Largest Franchisee Acquires 43 More Locations
JRI Hospitality, already the largest franchisee of Freddy's Frozen Custard & Steakburgers, has added 43 more restaurants by acquiring HCI Hospitality. The deal expands JRI's portfolio to over 130 Freddy's locations across 18 states, consolidating its position in the fast-casual market.
The acquisition includes not just the 43 Freddy's locations, but also HCI Hospitality's other restaurant holdings, such as JC's BBQ and Grill in Junction City, KS, and Powercat Sports Grill in Manhattan, KS. However, Booth Creek Wagyu, another brand in the HCI portfolio, was not part of the deal and will continue to be operated by HCI's founder, Dave Dreiling. To ensure a smooth transition and integration of the two companies, Cam Blakely, the former CEO of HCI, will join JRI Hospitality as the President of Operations for the JRI Freddy's division. This move brings experienced leadership from the acquired company into the JRI fold. JRI Hospitality, founded in 2011 by Jason Ingermanson, is based in Salina, Kansas, and operates a diverse portfolio of restaurants. Beyond its large Freddy's holdings, the company also owns and operates concepts like Mokas Coffee & Eatery and Chompie's. The seller, HCI Hospitality, also has its roots in Kansas, based in Manhattan. Prior to the sale, HCI operated its Freddy's franchises across several states, including Nebraska, Iowa, Texas, and the Carolinas. This deal is part of a larger trend of significant growth for the Freddy's brand, which has seen a surge in multi-unit development agreements. The fast-casual chain has been expanding its footprint across the United States and Canada, attracting experienced restaurant operators.
