Freddy's Largest Franchisee Adds 43 Restaurants
JRI Hospitality, already the largest franchisee of Freddy's Frozen Custard & Steakburgers, has acquired 43 more locations from HCI Hospitality. The deal grows the Kansas-based restaurant group's portfolio to over 130 Freddy's restaurants across 18 states.
This acquisition solidifies a long-standing relationship between the two Kansas-based hospitality groups. HCI Hospitality opened its first Freddy's restaurant on July 14, 2010, in Junction City, Kansas, and quickly expanded its holdings in several other states. The deal also includes HCI's other restaurant concepts, JC's BBQ and Grill in Junction City and Powercat Sports Grill in Manhattan, Kansas. Dave Dreiling, the founder of HCI Hospitality, will retain ownership of Booth Creek Wagyu. In a move to ensure a smooth transition, HCI's CEO, Cam Blakely, will join JRI as the President of Operations for their Freddy's locations. "The acquisition of HCI is a unique opportunity to bring two great teams together," said Jason Ingermanson, Founder and CEO of JRI Hospitality. He emphasized that HCI's "reputation, consistent performance, and commitment to integrity and quality align closely with our own values." This deal is part of a larger trend of growth and acquisition for the Freddy's brand. In September 2025, the entire Freddy's Frozen Custard & Steakburgers company was acquired by the global private equity firm Rhône. At that time, the chain had over 550 locations in the U.S. and Canada, with systemwide sales exceeding $1 billion.
