Freddy's Largest Franchisee Buys 43 More Stores
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, signaling continued consolidation in the fast-casual sector.
Salina-based JRI Hospitality's acquisition of 43 Freddy's Frozen Custard & Steakburgers locations from HCI Hospitality also includes HCI's other restaurant holdings, such as JC's BBQ and Grill in Junction City, KS, and Powercat Sports Grill in Manhattan, KS. However, Booth Creek Wagyu, another brand in the HCI portfolio, will remain under the ownership of HCI Hospitality founder, Dave Dreiling. To ensure a smooth integration of the two companies, Cam Blakely, the CEO of HCI Hospitality, will join JRI as the President of Operations for JRI's Freddy's locations. Dreiling expressed his enthusiasm for the deal, stating, "Our shared mission of genuine hospitality and expanded opportunities for our team members will guide us in this next chapter, as we grow with a commitment to guest satisfaction and positively impacting the communities we serve." This acquisition solidifies JRI Hospitality's position as the largest franchisee in the Freddy's system. The company, founded in 2011 by Jason Ingermanson, now operates over 130 Freddy's locations across 18 states, in addition to its other restaurant concepts. Ingermanson commented on the acquisition, "The acquisition of HCI is a unique opportunity to bring two great teams together. Their reputation, consistent performance, and commitment to integrity and quality align closely with our own values." The Freddy's brand itself has been on a significant growth trajectory. Founded in Wichita, Kansas, in 2002, the fast-casual chain now has more than 550 locations in the U.S. and Canada, generating over $1 billion in systemwide sales in the past year. The brand was acquired by private equity firm Rhône from Thompson Street Capital Partners in September 2025. Chris Dull, President and CEO of Freddy's, has noted the brand's steady growth and strengthening franchise system. The company has a development pipeline of roughly 540 units, with a long-term goal of reaching over 3,000 locations nationwide. The brand's success has been attributed to its core values of quality, cleanliness, and genuine hospitality, referred to as "The Freddy's Way."
