Dave’s Hot Chicken, Roark Make A Deal

Dave’s Hot Chicken is looking to grow with assistance from a new investment courtesy of Roark Capital—the private equity firm that owns Inspire Brands, Subway and GoTo Foods, among other restaurant brands.

“This is one of the great entrepreneurial journeys of our time, and now we begin the next chapter in the story,” says Bill Phelps, Dave’s Hot Chicken’s CEO, in a June 2 press release. “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.”

By the end of 2025, Dave’s expects to have more than 400 restaurants across the globe.

North Point Mergers & Acquisitions served as Dave’s financial advisor.