Thompson Street Capital Partners Acquires Freddy’s Frozen Custard & Steakburgers
Summary
ST. LOUIS--(BUSINESS WIRE)--Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today it has acquired Freddy’s Frozen Custard & Steakburgers (Freddy’s), a Kansas-based franchisor of fast casual restaurants. Founded in 2002 with its first company-owned location in Wichita, Freddy’s fast casual restaurants feature steakburgers, shoestring fries, and freshly churned frozen custard. 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. Obviously, the credit goes to our Team Members who have contributed immensely to our success to date and to our close-knit family of franchisees who have devoted their time and capital to develop the Freddy’s brand. 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.” Bob Dunn, Managing Partner, TSCP, said, “Freddy’s is a highly unique, scaled franchisor platform that has built a premium brand over the past two decades with leading franchisee retention, remarkable growth, and a passionate guest following of ‘FredHeads.’ We look forward to working with the outstanding team at Freddy’s to accelerate the Company’s already exceptional growth.” Joe St. Geme, Director, TSCP, added, “Freddy’s presents an exciting opportunity to partner with the founders and management to continue to grow a premier system by accelerating franchise development, increasing focus on marketing and technology deployment, and enabling operational best practices across the footprint.