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Dave's Hot Chicken got its start in 2017 as a popup in a Los
Angeles parking lot. It has grown exponentially since then and
expects to end this year with 400 restaurants worldwide. The
brand specializes in Nashville-style hot chicken.
Investors in Dave's Hot Chicken have included the rapper Drake,
who gives away hot chicken sliders every year on Oct. 24, his
birthday.
Atlanta-based Roark specializes in franchised businesses. It
bought the Subway sandwich chain in 2023 and backs two holding
companies that own multiple restaurant chains: Inspire Brands,
the parent of Arby’s, Dunkin’, Jimmy John’s, Sonic and Buffalo
Wild Wings; and GoTo Foods, which owns Auntie Anne’s, Carvel,
Cinnabon and Jamba.
Dave's Hot Chicken said its leadership team — including CEO Bill
Phelps and the four childhood friends who founded the company —
will remain and continue to lead menu innovation, food quality,
operations and marketing.
“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 said in a statement.
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