Randy Simon and Scott Redler have sold Freddy's restaurant to Thompson Street Capital Partners.
Freddy's was founded in Wichita 18 years ago.
The new owners are an private an equity firm in St. Louis. Randy Simon will stay on with the business. Simon will keep a minority ownership in the business, along with Redler.
The amount of the sale was not disclosed.
Freddy's has 400 locations across the US.
New owners say the headquarters will be kept in Wichita.
Freddy's is named after Freddy Simon, who passed away last year at 95.
