Freddy's Largest Franchisee Adds 43 Restaurants
JRI Hospitality, the largest franchisee of Freddy's Frozen Custard & Steakburgers, has acquired 43 more locations from HCI Hospitality. The deal grows the Salina-based restaurant group's portfolio to over 130 Freddy's restaurants across 18 states.
This deal solidifies JRI Hospitality's position as a major player in the fast-casual space. Founded in 2011 by Jason Ingermanson, the company has grown to operate over 90 restaurants across 15 states, including brands like Mokas Coffee & Eatery and The Original Grande. Ingermanson started his journey with Freddy's in 2008 and has since become one of the largest franchisees in their system. The acquisition is part of a broader growth strategy for JRI Hospitality, which projects an expansion of 20 projects per year. The company has been steadily acquiring Freddy's locations, such as the purchase of five restaurants in Nevada and California in 2021, which made them the sole franchisee in Nevada. This latest addition of 43 locations from HCI Hospitality significantly accelerates their expansion plans. Freddy's Frozen Custard & Steakburgers itself is on a significant upward trajectory. The chain, founded in 2002, has grown to over 580 locations and generated nearly $1 billion in systemwide sales in 2025. The brand was acquired by private equity firm Rhône in September 2025, a move intended to fuel further growth and international expansion. The fast-casual restaurant sector has been a hotbed of merger and acquisition activity. This trend highlights the strength and growth potential of brands like Freddy's within the industry. JRI's move to expand its Freddy's portfolio aligns with this broader market dynamic, indicating a strategic focus on a proven and popular concept.
