Freddy's Largest Franchisee Buys 43 More Locations
JRI Hospitality, the largest franchisee of Freddy's Frozen Custard & Steakburgers, has acquired 43 more locations from HCI Hospitality. The deal grows JRI's portfolio to over 130 restaurants across 18 states, consolidating its position in the fast-casual space.
The acquisition also includes some of HCI Hospitality's other restaurant concepts, namely JC's BBQ and Grill in Junction City, Kansas, and the Powercat Sports Grill in Manhattan, Kansas. However, HCI's founder, Dave Dreiling, will retain ownership of Booth Creek Wagyu. To ensure a smooth transition, HCI's CEO, Cam Blakely, will join JRI as the President of Operations for the newly acquired Freddy's locations. JRI Hospitality, founded in 2011 by Jason Ingermanson, has a diverse portfolio that extends beyond the Freddy's brand. The Salina, Kansas-based company also operates Mokas Coffee & Eatery, The Original Grande, and Chompie's Restaurants. Prior to this major acquisition, JRI already operated over 88 Freddy's locations across 15 states. The seller, HCI Hospitality, first began its journey with Freddy's in July 2010, opening a location in Junction City, Kansas. The company quickly expanded its Freddy's footprint, opening a second restaurant in Lawrence, Kansas, less than a week later and eventually operating in states including Nebraska, Iowa, Texas, and the Carolinas. Freddy's Frozen Custard & Steakburgers itself has a history rooted in Wichita, Kansas, where it was founded in 2002. Named after World War II veteran Freddy Simon, the brand has grown to over 500 locations nationwide and was acquired by private equity firm Thompson Street Capital Partners in 2021, and then by Rhône Group in 2025.
