Operations

Freddy's sold to Thompson Street Capital Partners

Provided

March 4, 2021

Thompson Street Capital Partners, a private equity firm in St. Louis, has acquired Kansas-based Freddy's Frozen Custard & Steakburgers. Terms of the transaction were not disclosed.

Founded in 2002 in Wichita, Freddy's has nearly 400 locations and is counting on TSCP to help it grow, Randy Simon, Freddy's co-founder and CEO, said in a company press release.

"When Freddy, Bill, Scott and I started Freddy's in 2002, our goal was to serve craveable food to our guests with quick-service speed and full-service hospitality at a price that was fair and competitive," he said. "There remains a large segment of the country where we are not present, and by partnering with TSCP we will be better able to expand in those areas and continue our strong growth going forward.

Scott Redler, co-founder and COO, said the chain has developed close relationships with its franchisees and will always prioritize their growth.

"We have continued to invest in an unparalleled corporate support system to ensure our operators have the resources they need, and our partnership with TSCP will elevate those capabilities and enable us to take our franchisee support to another level," he said in the release. "When we were introduced to the exceptional team at TSCP, it was apparent that our core values and company culture aligned, making them the perfect fit for our Freddy's family of Team Members, franchisees and vendor partners."

Founded in 2000, Thompson Street Capital Partners has acquired more than 100 companies and has managed more than $2.6 billion in equity.