Funding firm Rhône Group has agreed to amass the US restaurant chain Freddy’s Frozen Custard & Steakburgers for $700m, inclusive of debt, as reported by Reuters.
Freddy’s, based mostly in Wichita, Kansas, was established in 2002 by brothers Invoice and Randy Simon and their enterprise accomplice Scott Redler, and is known as after their father.
The chain at present operates greater than 500 areas throughout North America, primarily competing towards hamburger chains, with a majority of its retailers run by franchise companions.
In November 2024, Reuters reported that Thompson Road Capital Companions, which bought Freddy’s from its founders in 2021, is collaborating with funding financial institution William Blair on the sale.
St Louis-based Thompson Road Capital Companions focuses on mid-sized, founder-led companies and manages $4.5bn in property.
Funding financial institution North Level has additionally supplied advisory providers for the transaction.
Based in 1996 by former bankers from Lazard and Goldman Sachs, Rhône Group manages $10bn in property and invests within the client, enterprise providers and industrial sectors.
The agency took Brazilian restaurant chain Fogo de Chão personal in 2018 and offered it to Bain Capital in 2023 for $1.1bn.
Since 2017, Rhône has been an investor in Saks Fifth Avenue’s father or mother firm, HBC, which acquired department-store chain Neiman Marcus in 2024.
In June of the identical yr, Freddy’s Frozen Custard & Steakburgers signed a 20-unit improvement deal in Houston, Texas.
The growth was spearheaded by franchise group Lone Star Custard, led by siblings John, Nick and Joe DePinto.
“Rhône Group buys Freddy’s Frozen Custard & Steakburgers for $700m” was initially created and printed by Verdict Meals Service, a GlobalData owned model.
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