Clayton private equity firm Thompson Street Capital buys burger chain Freddy’s

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Private equity firm Thompson Street Capital Partners has acquired fast-casual burger chain Freddy’s Frozen Custard & Steakburgers in a deal that deviates from its usual targets in the health care, software and business service sectors.

“Freddy’s is a highly unique, scaled franchisor platform that has built a premium brand over the past two decades with leading franchisee retention, remarkable growth, and a passionate guest following of ‘FredHeads,’” Bob Dunn, managing partner of Clayton-based Thompson Street, said in an announcement this week.

Freddy’s, founded in 2002, will keep its headquarters in Wichita, Kansas. Since it began franchising in 2004, the chain has expanded to 30 states with more than 360 franchise locations and 30 corporate-owned stores. There are 12 locations in the St. Louis area.