Dave’s Hot Chicken said Monday it has been acquired by private equity firm Roark Capital in a deal valued at $1 billion.

Dave’s Hot Chicken has just been acquired by the owners of Subway for a whopping $1 billion. Sheesh. I wish this were a joke, but nope. Restaurant Brands International (RBI), which also owns major brands like Burger King and Tim Hortons,

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.