Just eight years after launching in a Los Angeles parking lot, Dave’s Hot Chicken has reached a major milestone — being acquired by private equity powerhouse Roark Capital in a deal valued at approximately $1 billion.
This acquisition underscores Dave’s explosive growth and cements its position as one of the fastest-growing chicken franchise brands worldwide. Today, Dave’s operates over 400 locations globally and has franchised rights to more than 1,000 units across the United States, the Middle East, and Canada.
Aggressive Growth Plans Ahead
With plans to open 155+ new restaurants in 2025 alone, Dave’s is poised for an aggressive expansion trajectory. CEO Bill Phelps commented:
“This is one of the great entrepreneurial journeys of our time, and now we begin the next chapter in the story. Our entire organization is excited about the fit between Dave’s Hot Chicken and Roark, and we’re looking forward to continuing to blow our guests’ minds and unlocking growth and value for our franchise partners.”
Phelps has projected that the chain could reach up to 4,000 units worldwide within the next decade, highlighting the enormous market potential.
Leadership and Innovation Remain Strong
The current leadership team will remain in place, maintaining a strong focus on:
- Menu innovation
- Operational excellence
- Brand development
- Enhancing digital customer experience
Roark Capital’s Franchise Powerhouse Portfolio
Based in Atlanta, Roark Capital manages over $40 billion in equity and owns an impressive portfolio of restaurant and franchise brands, including Dunkin’, Arby’s, Sonic, and Buffalo Wild Wings.
In 2023, Roark made headlines with its $10 billion acquisition of Subway, and now with Dave’s Hot Chicken, the firm further strengthens its position in the fast-casual and QSR sectors by investing in high-growth, franchise-friendly concepts.
Explore Your Dave’s Hot Chicken Franchise Opportunity
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