Freddy’s, the popular restaurant chain founded in Wichita, has new owners

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Freddy’s Frozen Custard & Steakburgers — the popular restaurant chain founded in Wichita 18 years ago — has new owners.

But the restaurant chain won’t be leaving Wichita any time soon.

On Wednesday, Freddy’s owners Randy Simon and Scott Redler signed papers finalizing the sale of the chain to Thompson Street Capital Partners, a private equity firm based in St. Louis. The firm owns several companies, and one of its specialties is software.

None of the parties disclosed the terms of the sale.

Redler said that he, Simon and the estate of Simon’s late brother and Freddy’s co-founder, Bill Simon, would remain minority owners in the company and that he and Randy Simon would stay on with the business for the foreseeable future.

The new owners plan to keep the headquarters in Wichita and keep all of Freddy’s local employees as well, something that was important to the former owners, Redler said.

“We felt when talking to them that they understood what made our company what it is today and that they are going to continue to do that… to take care of our guests the Freddy’s Way, to continue to support our franchisees to be successful and to grow at the record pace that we have experienced.”

Read more: Wichita Eagle