The fast-growing chain Dave’s Hot Chicken, which began operations in 2017, has been acquired by Roark Capital, a private equity firm that also owns Subway. The deal, announced monday, is valued at $1 billion.

The restaurant, known for its Nashville-style hot chicken, anticipates significant expansion. According to a press release, the company plans to open 155 new locations this year, with a goal of reaching 400 restaurants globally by the end of 2025.

the company’s origins trace back to a humble beginning: a parking lot in East Hollywood, California, where a group of friends launched the concept.

Rapid Growth and Market Leadership

Data from Placer.ai indicates that “Big Chicken” is experiencing a surge in popularity. Dave’s Hot Chicken has emerged as a frontrunner, demonstrating the most ample year-over-year growth in visits among chicken chains. The company recorded 67.2% growth in Q4 2024 and 60.0% in Q1 2025, outperforming competitors such as Huey Magoo’s, Super Chix, and Raising cane’s.

“You just have to be present for all of it. And you have to believe in your product and use that motivation to keep going.”

Dave Kopushyan,one of the founders and the chef behind the brand,shared in 2022 that the company’s rapid success requires constant dedication. He emphasized the importance of believing in the product and maintaining motivation.

Dave’s Hot Chicken began franchising in 2019 and has since sold rights to over 1,000 locations across the U.S., the Middle East, and Canada.

Roark Capital, based in Atlanta, specializes in franchise businesses, according to the AP. In 2023, the firm acquired Subway sandwiches and has investments in numerous other restaurant chains, including Jimmy John’s and Jamba Juice.

^{Dave’s Hot Chicken Sliders – Courtesy of Dave’s Hot Chicken}