Freddy’s Frozen Custard inks deal for Northeast Illinois expansion

Chicagoland development agreement will bring six new Freddy’s restaurants to region

Freddy’s Frozen Custard and Steakburgers inked a new deal for Northeast Illinois expansion. A development agreement with Asif Poonja, president and chief executive of Jam Equities, and his company will bring six new units to Chicagoland. In the region, Freddy’s Frozen Custard has added 13 locations to the pipeline during the first quarter alone.

The fast casual has gathered momentum in 2022, increasing its pipeline by 94 units. Freddy’s executives are optimistic in the future of the brand as they work with operators to meet the increased consumer demand for convenience and accessibility, suggested a company statement. As an example, Freddy’s partnered with Creative Realities to launch digital menu boards. This next-generation technology will make its drive-thru experience more seamless, Freddy’s said.

“The development success we’ve been able to achieve in Chicagoland is a testament to the incredible franchise groups who are bringing Freddy’s to the market. We strongly believe that our newly formed partnership with JAM Equities will propel our growth even further,” said Andrew Thengvall, chief development officer at Freddy’s. “Asif has extensive local knowledge and experience in the foodservice industry, and we know that his leadership will position their future units for success with our brand.”

As an operator, Poonja has more than 25 years of experience owning and managing QSR concepts. Together with his team, he has nine Popeyes restaurants in their portfolio with eight in Iowa and one in Chicago, and the group is set to further expand their footprint with the brand by developing four new units this year.


Poonja added, “To broaden our portfolio, we have been actively searching for a proven concept that holds a unique position within the QSR industry. Through our research, we confirmed that Freddy’s is one of the fastest-growing franchises in its segment, and we believe it complements our other brands well. Since entering Chicagoland, Freddy’s has proven to resonate across the market, and we’ve been fortunate enough to see the growth potential first-hand. We are excited to be joining the Freddy’s Family.”

In addition to the developing Northeast Illinois expansion, executives have targeted California, Louisiana, North Carolina, South Carolina, and Texas as focal markets for near-term growth.


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