Who owns the Dairy Queen fast food chain? Dairy Queen is owned by Berkshire Hathaway Inc., a multinational conglomerate holding company. Berkshire Hathaway, led by Warren Buffett as the Chairman and CEO, acquired Dairy Queen in 1998. Dairy Queen, also known as DQ, is a chain of fast-food restaurants specializing in soft-serve ice cream and other frozen treats, along with a range of food items. It was founded in 1940, and since then, has grown into a popular and well-known brand with thousands of locations worldwide.
Company History
Dairy Queen, also known as DQ, is a popular American chain of ice cream and fast-food restaurants. John Fremont McCullough and his son Alex founded the company on June 22, 1940, in Joliet, Illinois. Sherb Noble operated their first store. The success of their first store helped expand the business across the United States. Initially, Dairy Queen was a privately held company.
In 1948, the founders created the Dairy Queen Corporation and opened franchising opportunities. By the 1960s, Dairy Queen had grown to over 5,000 stores across the United States and globally. In 1984, International Dairy Queen, Inc. (IDQ), a subsidiary of Dairy Queen, merged with Orange Julius, a popular food and beverage retailer. This merger further expanded the company’s product offerings.
In 1998, Berkshire Hathaway, the multinational conglomerate led by Warren Buffett, acquired Dairy Queen. Berkshire Hathaway purchased International Dairy Queen, Inc. for $585 million in a stock swap deal. Since then, Dairy Queen has operated as a wholly-owned subsidiary of Berkshire Hathaway. Today, Dairy Queen’s corporate headquarters are in Minneapolis, Minnesota.
Dairy Queen now operates more than 6,800 stores in the United States and other countries. The company serves its signature ice cream treats, Blizzards, and fast food items.
Who was the original founder?
Dairy Queen was originally founded by John Fremont McCullough in 1940, alongside his son Bradley McCullough and longtime friend Sherb Noble. John McCullough, born on November 19, 1871, in Illinois, worked as a chemist and ice cream maker in the dairy industry. He is famous for developing a soft-serve ice cream formula that is smoother and creamier than traditional ice cream.
McCullough’s innovative formula used lower fat content, higher temperatures, and quick freezing. These changes created the iconic ice cream Dairy Queen is known for today. To demonstrate the public’s demand for soft-serve ice cream, McCullough and Noble teamed up. In Kankakee, Illinois, Noble hosted a promotional event on August 4, 1938, offering all-you-can-eat ice cream for just 10 cents.
The event was a huge success, selling over 1,600 servings in two hours. This success inspired them to start a business focused on soft-serve ice cream. On June 22, 1940, John and Bradley McCullough opened the first Dairy Queen store in Joliet, Illinois, in partnership with Noble. The Dairy Queen brand expanded rapidly and now has over 6,800 locations worldwide.
Today, Dairy Queen is a subsidiary of Berkshire Hathaway, led by business magnate Warren Buffett.
Dairy Queen’s Ongoing Growth Under Berkshire Hathaway
Since Berkshire Hathaway’s acquisition of Dairy Queen in 1998, the company has continued to expand. With Warren Buffett’s leadership, Dairy Queen has thrived under the conglomerate’s extensive resources. The brand now operates over 6,800 locations worldwide.
This growth reflects the company’s commitment to quality and customer satisfaction. Additionally, Dairy Queen’s partnership with Berkshire Hathaway has provided the financial stability needed to innovate and diversify its product offerings. As a result, Dairy Queen has maintained its popularity, appealing to generations of loyal customers.
Frequently Asked Questions
Who owns Dairy Queen?
Dairy Queen is owned by Berkshire Hathaway, an American multinational conglomerate holding company.
When was Dairy Queen founded?
Dairy Queen was founded on June 22, 1940, in Joliet, Illinois, United States.
What type of products does Dairy Queen offer?
Dairy Queen primarily offers soft-serve ice cream and fast food, including items such as Blizzards, sundaes, shakes, malts, ice cream cones, Dilly Bars, burgers, chicken strips, fries, and more.
How many Dairy Queen locations are there?
As of 2020, there are more than 7,000 Dairy Queen locations worldwide, including both traditional DQ restaurants and combination DQ/Orange Julius stores.
Where is Dairy Queen’s headquarters located?
Dairy Queen’s headquarters is currently located in Bloomington, Minnesota, United States.
