FREDDY’S acquired by RHONE CAPITAL

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.