Freddy's Acquired by Thompson Street Capital Partners
Freddy’s Frozen Custard & Steakburgers has been purchased by private equity firm Thompson Street Capital Partners in an undisclosed deal. The nearly 20-year-old chain is coming off a momentous year in which it opened 30 stores in the U.S., including its 400th. After experiencing a week in March where sales were down 38 percent, the chain finished the year by growing AUV by 6.5 percent, and increasing systemwide sales by 21.2 percent. In July, the brand experienced a 47 percent increase in drive-thru traffic and reduced wait times by 28 percent.
Source: qsrmagazine.com