Roark Capital, a major investment firm with deep roots in the food industry, has finalized a strategic acquisition: the purchase of Dave’s Hot Chicken, a fast-growing

Roark bought Subway in 2023 for $9.6 billion. The firm also backs two holding companies that own multiple restaurant chains including Inspire Brands, the parent of Arby’s, Dunkin’, Jimmy John’s, Sonic and Buffalo Wild Wings, along with GoTo Foods, which owns Auntie Anne’s, Carvel, Cinnabon and Jamba Juice.

Dave's Hot Chicken said Monday it has been acquired by the private equity firm Roark Capital in a deal valued at $1 billion. Dave's Hot Chicken got its start in 2017 as a popup in a Los Angeles parking lot.