Crux Capital and Trive Capital elevated their stake to majority ownership, then installed a longtime Freddy's operator to run HTeaO's next growth phase.
HTeaO has named Brian Wise chief executive officer, succeeding co-founder Justin Howe as the iced tea franchise moves into its next growth phase. Howe will shift to executive chairman, focusing on long-term brand strategy and product development. Wise spent nearly two decades inside Freddy's Frozen Custard & Steakburgers, first as a multi-unit franchisee partner and later as chief operating officer, where he helped scale that brand to nearly 600 restaurants across the country.
The leadership change follows an April growth investment from Crux Capital and Trive Capital, the Dallas firms that first backed HTeaO in January 2023 and now hold a majority stake in the company. Both firms pointed to Wise's dual background as operator and corporate executive as the reason he fits HTeaO's next chapter, which they say includes hundreds of additional locations over the coming years.
HTeaO currently runs more than 180 locations across 11 states, and the new ownership structure signals investors expect faster unit growth ahead. Installing a CEO with direct franchisee experience, rather than a pure finance or marketing hire, suggests the brand intends to lean on operational discipline as it scales, a pattern PE-backed franchisors increasingly favor once they move from minority to majority control of a system.
Wise said his priority is strengthening systems and infrastructure alongside franchise partners rather than changing what already works for the brand. For current and prospective HTeaO operators, the transition points to more investment in technology and support staff as the brand chases whitespace in the drive-thru beverage category, where iced tea concepts have drawn growing investor interest this year.
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