Freddy's

Financing

Acquisition of a struggling Chicago market sends a Freddy's franchisee into bankruptcy

M&M Custard, which at one point owned 42 Freddy’s Frozen Custard & Steakburgers fast-casual locations in six states, wants to use the bankruptcy process to shutter 11 locations and move on without them.

Financing

With new owners, Freddy's looks to go global with steakburgers, cheese curds and frozen custard

The fast-casual chain's acquisition by private-equity firm Rhone is expected to help open doors for international growth, said CEO Chris Dull.

The fast-casual burger chain has been on the market all year. The sale continues a run of deals involving franchised restaurant brands.

Rhone has a deal to acquire the fast-casual burger chain for $700 million from Thompson Street Capital Partners, according to Reuters.

The fast-casual burger chain is apparently considering a sale process that could value the brand at $1 billion, as private-equity groups snap up franchise businesses.

They're coming for the great food and experience. The technology should just make that experience easier to get.

Freddy's promotes Brian Wise to role of chief operating officer, and Jerry Kunz is named Vice President of Finance.

Freddy's Scott Redler was elected vice chairman, and Michigan's Jeff Lodbell was named treasurer.

The fast-casual chain said it plans to expand a test of deploying workers with tablets to its drive-thrus to take orders and payments as it looks to move cars through the line more quickly.

The marketing veteran joins the fast-growing fast-casual concept six months after its sale to Thompson Street Capital Partners.

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