Freddy's Largest Franchisee Expands
JRI Hospitality, already the largest franchisee of Freddy's Frozen Custard & Steakburgers, has acquired another 43 locations by purchasing HCI Hospitality. The deal grows JRI's portfolio to over 130 Freddy's restaurants across 18 states, consolidating its position in the fast-casual space.
This acquisition further solidifies a long-standing relationship, as JRI Hospitality has been a Freddy's franchisee since 2009. The company, led by President and CEO Jason Ingermanson, has a history of growth through acquiring existing Freddy's locations, including purchases in Pennsylvania, Nevada, and California in recent years. HCI Hospitality, the seller in this deal, also has deep roots with the Kansas-based burger brand. The company opened its first Freddy's in Junction City, Kansas, back in 2010 and grew to operate over 40 locations across states like Nebraska, Iowa, Texas, and the Carolinas. The deal is a significant consolidation within the Freddy's system. The brand, founded in Wichita, Kansas, in 2002, has grown to over 550 locations in 36 states. The company has a stated goal of reaching 800 restaurants by 2026. Freddy's was named after co-founder Scott Redler's and the Simon brothers' father, Freddy Simon, a World War II veteran. The brand's concept is modeled on the fast-casual dining of the late 1940s and early 1950s. In 2021, the parent company was acquired by private equity firm Thompson Street Capital Partners, and in August 2025, Rhône Group agreed to acquire it.
