It’s official. Freddy’s Frozen Custard & Steakburgers has a new owner.
The Wichita, Kansas-based fast-casual chain said Thursday it has been acquired by investment funds affiliated with the private-equity firm Rhône. Terms were not disclosed, but the chain’s acquisition from Thompson Street Capital Partners was reportedly for $700 million, including debt.
“The acquisition marks a pivotal moment for Freddy’s,” said Chris Dull, the chain’s president and CEO, in a statement. “Over the last few years, we’ve seen steady growth and surpassed many milestones for our brand, while simultaneously strengthening our franchise system and building a loyal guest following. We’re excited to take our success to the next level with this new partnership with Rhône.”…