Dave's Hot Chicken Acquired for $1B By Roark Capital
The chicken shop, which specializes in a hot, Nashville-style of the bird, expects to open 155 locations this year and end 2025 with 400 restaurants worldwide, according to a press release.
Not bad for a company that began with a group of childhood friends in an East Hollywood, California, parking lot.
Related: 'It Was Like a Drug': How Dave's Hot Chicken Grew a Cult Following From a Parking Lot
"This is one of the great entrepreneurial journeys of our time, and now we begin the next chapter in the story," said Bill Phelps, Dave's Hot Chicken's CEO, in a 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."
According to data from Placer.ai, "Big Chicken" is on the up, and Dave's Hot Chicken was the leader of the flock, with the "most significant" year-over-year visit growth (67.2% in Q4 2024 and 60.0% in Q1 2025) of all the chicken chains, including Huey Magoo's, Super Chix, and Raising Cane's.
Dave Kopushyan, the "Dave" in the name, is one of the founders and the chef who began slinging the now-famous hot chicken using portable fryers and folding tables. He told Entrepreneur in 2022 that the company's fast success is making them work even harder.
"You just have to be present for all of it," Kopushyan said. "And you have to believe in your product and use that motivation to keep going."
Related: Private Equity Giant Blackstone Acquires Jersey Mike's Subs for $8 Billion
In 2019, Dave's began franchising, and the company says it has sold the rights to more than 1,000 locations in the U.S., the Middle East, and Canada.
Roark is based in Atlanta and specializes in franchised businesses, per the AP. It purchased Subway sandwiches in 2023 and backs a slew of restaurant chains, from Jimmy John's to Jamba Juice.
Dave's Hot Chicken Sliders - Courtesy of Dave's Hot Chicken
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Critics Rock Trump Administration For Posting 'Delusional' And 'Backwards' Meme
President Donald Trump has promised to revive the coal industry, and the Energy Department is serving notice that it's ready to move forward. The tweet on the Energy Department's official X feed shows a piece of coal and a Wendy Williams phrase that's become a meme: Trump has long promoted coal and other fossil fuels, and he has a grudge against most forms of clean energy. He famously despises windmills, but also isn't fond of solar ― nor does he like green-powered vehicles such as electric cars, despite briefly promoting former friend Elon Musk's Tesla vehicles at a White House event this year before the two fell out. Trump has also declared a national emergency to fast-track new energy production ― specifically nuclear, oil, gas, and coal. He seems to favor coal in particular, signing multiple executive orders to help the industry since taking office. Critics fired some clean burns back at the agency:
Yahoo
10 minutes ago
- Yahoo
Trump hits Canada with 35 per cent tariffs
WASHINGTON — Canada has been hit with 35 per cent tariffs after U.S. President Donald Trump followed through on his threat to increase duties if Ottawa didn't agree to a trade deal. The White House said the tariffs would not affect goods compliant with the Canada-U.S.-Mexico Agreement on trade. Prime Minister Mark Carney had tempered expectations of an agreement by Friday, saying Ottawa would only take the right deal for Canada. On Thursday, Trump gave Mexico a 90-day extension on trade negotiations but did not announce a similar offer for Canada. Trump's 50 per cent copper tariffs also came into effect just after midnight, but this latest duty exempts the raw input material. The copper tariffs are being added to a growing list of U.S. sectoral duties, which include duties on automobiles, steel and aluminum. This report by The Canadian Press was first published Aug. 1, 2025. Kelly Geraldine Malone, The Canadian Press Sign in to access your portfolio
Yahoo
10 minutes ago
- Yahoo
Trump pushed tariffs on Canada to 35 per cent, but a CUSMA carveout creates a shield
WASHINGTON — U.S. President Donald Trump has increased tariffs on Canada to a staggering 35 per cent but a critical carveout is likely to shield most goods from the devastating duties. The White House has said the tariffs won't be applied to goods that are compliant with the Canada-U.S.-Mexico Agreement on trade, also known as CUSMA. Here's what that means for Canadian companies: What is CUSMA compliance? CUSMA was negotiated during the first Trump administration to replace the North American Free Trade Agreement. Companies can claim preferential treatment under CUSMA if they meet its rules of origin. While it is different depending on the product, generally it requires a specific amount of the goods be made of products or with labour originating from Canada, Mexico or the United States. About 80 to 90 per cent of Canadian goods might be able to comply with CUSMA's rules of origin, said Michael Dobner, the national leader of economics and policy practice at PricewaterhouseCoopers Canada. Not all exporters have filed the necessary paperwork to avoid the duties. There's been an increase in businesses claiming preferential treatment under CUSMA but it's not clear exactly how much of Canadian exports are currently compliant. Are any industries more at risk? Dobner said there's no specific industry that he expects to be hit the hardest. Certain companies may not be able to source input materials from North America to make their product. That means they would not be able to apply for preferential treatment under CUSMA and will face the 35 per cent tariff. But Dobner said "it's the minority of the exports of Canada to the U.S." What's the impact on small and medium-sized businesses? Small and medium-sized businesses may have not applied for CUSMA preferential status before Trump's tariffs because the process can be burdensome for enterprises of that size. Some small and medium-sized businesses might not meet CUSMA rules of origin requirements and don't have the financial flexibility to change their inputs to North American products. Dan Kelly, president and CEO of the Canadian Federation of Independent Business, said many of these businesses were absorbing some or all of the costs associated with Trump's tariffs under the assumption that there would a resolution coming. Kelly said some small and medium-sized businesses facing the 35 per cent tariff may have to stop selling into the United States. This report by The Canadian Press was first published Aug. 1, 2025. Kelly Geraldine Malone, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
