Largest Freddy's Franchisee Acquires 43 More Locations

Salina, Kansas-based JRI Hospitality was founded in 2011 by Jason Ingermanson and has a diverse portfolio that extends beyond the Freddy's brand. The company also owns and operates Mokas Cafe, The Original Grande, and Chompie's restaurants, and has even expanded into the hospitality sector with the acquisition of the historic Salina Country Club. The seller, HCI Hospitality, was founded in 2002 and is based in Manhattan, Kansas. Like JRI, HCI also operates a diverse portfolio, including several award-winning local restaurants in the Manhattan and Junction City, Kansas area, in addition to its more than 40 Freddy's locations. This acquisition is part of a larger trend of aggressive growth for the Freddy's brand. The company opened a record 62 new restaurants in 2023 and projects to have 800 operating locations by 2026. This expansion has been fueled by multi-unit development agreements with franchisees. The fast-casual restaurant chain has seen significant leadership and ownership changes in recent years. In September 2025, Freddy's was acquired by the private equity firm Rhône, a move intended to accelerate growth and international expansion. The brand has already expanded into Canada. JRI Hospitality has a history of growth through acquisition, having previously purchased Freddy's locations in Nevada, California, and Pennsylvania. The company has a projection of expanding its overall reach with 20 projects per year. To support this growth, JRI opened a new office in Wichita, Kansas, and has hired senior leadership with deep experience in the restaurant industry. Freddy's itself was founded in 2002 in Wichita, Kansas, by brothers Bill and Randy Simon and their friend, Scott Redler. The chain is known for its cooked-to-order steakburgers and freshly churned frozen custard. In 2025, the company reported systemwide sales of over $1 billion.