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Transactions / Freddy

Freddy’s Acquired by Rhône from Thompson Street Capital Partners to Drive Continued Market Expansion

Sponsor to sponsorclosedannounced Sep 4, 2025closed Sep 4, 2025Fact
What happened
Target
Freddy
Platform
not an add-on on record
Control
Control
Share acquired
unknown
Industry
unknown
Target location
unknown
Seller kind
Sponsor
Rollover
unknown
Values, only where disclosed
Enterprise value
Not disclosed
Purchase price
Not disclosed
Equity value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
Multiple
Not disclosed
Parties and roles
7 named
Buy side
  • Lucas FlynnDeal partnerconfirmed
    ““Rhône looks forward to bringing its experience with global consumer brands to its most recent investment in Freddy’s as the company expands its footprint and further improves its guest experience,” said Lucas Flynn, a Managing Director at Rhône.”
  • RhôneSponsorconfirmed
    “WICHITA, Kan. (SEPTEMBER 4, 2025) – Freddy’s – the fast-casual restaurant concept known for its made-to-order steakburgers, shoestring fries, and freshly-churned frozen custard treats – has been acquired by investment funds affiliated with Rhône, a global private equity firm, from Thompson Street Ca”
Sell side
  • Thompson Street Capital Manager LLCSellerconfirmed
    “Thompson Street Capital Partners is a middle-market private equity firm that helps transform already exceptional businesses into market leaders.”
Advisory side
  • Jefferies LLCBuy-side adviserconfirmed
    “Jefferies LLC served as the financial advisor to Rhône.”
  • William BlairSell-side adviserconfirmed
    “William Blair served as the lead financial advisor to Freddy’s, with North Point also acting as a financial advisor.”
Side not stated
  • Chris DullManagementconfirmed
    ““This acquisition marks a pivotal moment for Freddy’s,” said Chris Dull, President and CEO of Freddy’s.”
  • FreddyTargetconfirmed
    “Freddy’s Acquired by Rhône from Thompson Street Capital Partners to Drive Continued Market Expansion”
Evidence
“Freddy’s Acquired by Rhône from Thompson Street Capital Partners to Drive Continued Market Expansion”
Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)confidence 80%recorded Sep 15, 2026
Freddy’s Acquired by Rhône from Thompson Street Capital Partners to Drive Continued Market | Private Equity Intelligence | DFX