All Brands Owned by Freddy's Frozen Custard & Steakburgers, Inc.

Who owns Freddy's Frozen Custard & Steakburgers?
Freddy's is privately held by Rhone Group, a global private equity firm that acquired the chain in September 2025 for approximately $650 million. Rhone acquired Freddy's from Thompson Street Capital Partners, which had owned it since 2021. The founding Schimpf and Simon families remain involved with the brand. The company is not publicly traded.

Who founded Freddy's?
Freddy's was founded in 2002 by Scott Schimpf, Bill Simon, and Randy Simon in Wichita, Kansas. The restaurant was named after Scott Schimpf's father, Fred Schimpf, a World War II veteran who inspired the brand's retro Americana aesthetic and values.

How many Freddy's locations are there?
Freddy's operates 580 locations across 36 states as of the end of 2025. Of these, 542 are franchised and 38 are company-owned. The company expects to open approximately 60 locations in 2026, likely surpassing 600 total restaurants.

What makes Freddy's different from other burger chains?
Freddy's differentiates itself through its frozen custard, which is a richer and denser version of ice cream churned fresh throughout the day. The company also offers steakburgers made with fresh, never-frozen beef, and all-beef hot dogs. The combination of premium frozen custard and steakburgers in a fast-casual setting is relatively unique in the restaurant industry.

Is Freddy's publicly traded?
No, Freddy's is privately held by Rhone Group. The company is not publicly traded and does not file financial reports with the SEC.

What is Freddy's average unit volume?
Freddy's average unit volume is approximately $1.9 million for standalone drive-thru franchised restaurants. End-cap units with drive-thrus average approximately $1.8 million, while in-line units average approximately $1.4 million.

Where is Freddy's expanding?
Freddy's is prioritizing growth in the Northeast, Rust Belt, Midwest, Pacific Northwest, Northern California, and Florida. In 2025, the company signed 22 multi-unit development agreements for 118 new restaurants across the U.S. and Canada. Key expansion markets include Ohio, Nashville, North Carolina's coastal counties, Pennsylvania, and New Jersey.

How much does it cost to open a Freddy's franchise?
The initial investment for a Freddy's franchise varies by format. An in-line restaurant can be developed for approximately $854,834, while a standalone restaurant requires an investment of over $1.5 million. The company has expanded its real estate focus to include endcap and in-line locations to provide franchisees with greater flexibility and lower initial investment costs.