At what enterprise value was FREDDY’S acquired in 2025?

During the acquisition of FREDDY’S by RHONE CAPITAL in 2025, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.5x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of FREDDY’S when it was acquired by RHONE CAPITAL?

The estimated EV/EBITDA multiple for FREDDY’S is in the range of 10x - 18x. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.5x. Join our community for free to access full valuation data and industry trends.

When was FREDDY’S acquired by RHONE CAPITAL?

FREDDY’S was acquired by RHONE CAPITAL in 2025.

What was the revenue of FREDDY’S at the time of the deal?

The revenue of FREDDY’S at the time of the deal is estimated to be in the range of 500M - 1b USD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of FREDDY’S during the acquisition?

FREDDY’S's EBITDA is estimated to be in the range of 50M - 100M USD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the FREDDY’S acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the FREDDY’S deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.rhonegroup.com/portfolio/freddys/

← DATABASE

Home Database Retail & ConsumerFREDDY’S

09/2025

FREDDY’S

Acquired by

RHONE CAPITAL

UNITED STATES Hospitality & Leisure / Hospitality / Restaurants / Chains EV 500M - 1.5b USD

FREDDY’S acquired by RHONE CAPITAL

UNITED STATES Hospitality & Leisure / Hospitality / Restaurants / Chains EV 500M - 1.5b USD

Context

Rhône have acquired Freddy’s Frozen Custard & Steakburgers from Thompson Street Capital Partners, taking full control of the brand. The deal is structured as a full‑ownership transfer, with Thompson Street fully exiting its position after a roughly five‑year hold during which the chain grew from about 400 to over 550 units and significantly improved average unit volumes, digital capabilities, and franchisee support. Rhône, known for its transatlantic‑style, buy‑and‑build playbook in consumer and restaurant assets (including the earlier take‑private and subsequent sale of Fogo de Chão), intends to support Freddy’s expansion into new U.S. and international markets, build on existing franchise‑development momentum, and continue investing in innovation, operations, and digital guest experience.

FREDDY’S, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the average currently observed in the Retail & Consumer sector (11.5x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Freddy’s Frozen Custard & Steakburgers is a U.S.‑based fast‑casual burger and frozen‑custard chain founded in 2002 in Wichita, Kansas, by brothers Bill and Randy Simon and their business partner Scott Redler. The concept is built around made‑to‑order steakburgers, shoestring fries, and freshly churned frozen custard, positioning itself in the “premium burger” segment rather than low‑end QSR. Freddy’s operates under a primarily franchised model, with a growing network of over 550 locations across the United States and Canada, generating more than USD 1 billion in system‑wide sales over the past year. The brand competes against mainstream burger chains but differentiates itself through a more upscale, quality‑driven menu and a family‑friendly, hospitality‑oriented in‑store experience. Under Thompson Street Capital Partners’ ownership (2021–2025), the company expanded from about 400 to over 550 units, improved average unit volumes, and invested in back‑of‑house systems, digital platforms, and franchisee support, including a dedicated training and innovation center in Wichita.

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REFERENCES

Valuation range: EV 500M - 1.5b USD

Revenue range: 500M - 1b USD

EBITDA range: 50M - 100M USD

Note: Detailed and exact financial metrics (Enterprise Value, Revenue, EBITDA, and precise Multiples) are reserved for Mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: freddy’s

Acquirer: rhone capital