Roark Capital, a prominent private equity firm with a strong presence in the restaurant industry, has acquired a majority stake in Dave’s Hot Chicken, a fast-growing fast-casual chain specializing in Nashville-style hot chicken. The value of the deal is reported to be around $1 billion.
Dave’s Hot Chicken, known for its spicy chicken tenders and sliders, has experienced rapid expansion in recent years. The brand, which began as a pop-up in a Los Angeles parking lot in 2017, has since grown to hundreds of locations across the United States and internationally.
Roark Capital is renowned for its investments in consumer and franchise businesses, particularly in the food and restaurant sectors. The firm currently counts several high-profile restaurant brands in its portfolio, including Subway, Arby’s, Dunkin’, and Buffalo Wild Wings.
The acquisition is expected to provide Dave’s Hot Chicken with additional resources and operational support to continue its aggressive growth strategy. According to industry analysts, Roark’s involvement could help streamline expansion efforts, improve supply chain efficiencies, and enhance franchisee support.
Neither Roark Capital nor Dave’s Hot Chicken disclosed the exact terms of the transaction. However, people familiar with the matter confirmed the valuation was near the $1 billion mark, reflecting the brand’s strong performance and growth potential.
This investment underscores the continued interest from private equity in the fast-casual dining segment, especially brands that have demonstrated strong customer loyalty and scalable business models. With the backing of Roark Capital, Dave’s Hot Chicken appears poised to solidify its position as a leading name in the competitive fast-casual market.
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