Freddy's Largest Franchisee Buys 43 More
JRI Hospitality, already the largest franchisee of Freddy's Frozen Custard & Steakburgers, has acquired another 43 locations by purchasing rival franchisee HCI Hospitality. The deal expands JRI's portfolio to over 130 restaurants across 18 states, consolidating its dominant position within the brand.
This acquisition solidifies a long-standing relationship with the Freddy's brand for JRI Hospitality founder and CEO, Jason Ingermanson. Ingermanson, a Salina, Kansas native, has been a Freddy's franchisee since 2008, growing his portfolio to nearly 100 units before this recent deal. His hospitality group also owns and operates other restaurant concepts, including Mokas Coffee & Eatery, Chompie's, and The Original Grande. The purchased franchisee, HCI Hospitality, also has deep roots with Freddy's, having opened its first location in Junction City, Kansas, on July 14, 2010. Prior to the sale, HCI operated more than 40 Freddy's locations across several states. The deal also included HCI's other restaurant holdings, JC's BBQ and Grill and Powercat Sports Grill. The fast-casual brand itself, Freddy's Frozen Custard & Steakburgers, was founded in Wichita, Kansas, in 2002. The concept was inspired by the founders' father, Freddy Simon, a World War II veteran. The restaurant aims for a nostalgic feel reminiscent of the late 1940s and early 1950s. Freddy's has been on a significant growth trajectory, opening a company-record 62 new restaurants in 2023, including its 500th location. The company's stated goal is to reach 800 operating restaurants by 2026. This latest move by its largest franchisee contributes significantly to that expansion.
