Dave’s Scorching Rooster Acquired for $1B By Roark Capital

Dave’s Scorching Rooster, which started in 2017, introduced on Monday that it was acquired by personal fairness agency (and Subway proprietor) Roark Capital in a $1 billion deal.

The hen store, which makes a speciality of a sizzling, Nashville-style of the hen, expects to open 155 areas this 12 months and finish 2025 with 400 eating places worldwide, in accordance with a press launch.

Not dangerous for an organization that started with a bunch of childhood mates in an East Hollywood, California, parking zone.

Associated: ‘It Was Like a Drug’: How Dave’s Scorching Rooster Grew a Cult Following From a Parking Lot

“This is likely one of the nice entrepreneurial journeys of our time, and now we start the subsequent chapter within the story,” mentioned Invoice Phelps, Dave’s Scorching Rooster’s CEO, in a press launch. “Our complete group is happy concerning the match between Dave’s Scorching Rooster and Roark, and we’re wanting ahead to persevering with to blow our company’ minds and unlocking development and worth for our franchise companions.”

In accordance with information from Placer.ai, “Massive Rooster” is on the up, and Dave’s Scorching Rooster was the chief of the flock, with the “most vital” year-over-year go to development (67.2% in This fall 2024 and 60.0% in Q1 2025) of all of the hen chains, together with Huey Magoo’s, Tremendous Chix, and Elevating Cane’s.

Dave Kopushyan, the “Dave” within the identify, is likely one of the founders and the chef who started slinging the now-famous sizzling hen utilizing transportable fryers and folding tables. He advised Entrepreneur in 2022 that the corporate’s quick success is making them work even more durable.

“You simply need to be current for all of it,” Kopushyan mentioned. “And it’s a must to imagine in your product and use that motivation to maintain going.”

Associated: Personal Fairness Large Blackstone Acquires Jersey Mike’s Subs for $8 Billion

In 2019, Dave’s started franchising, and the corporate says it has offered the rights to greater than 1,000 areas within the U.S., the Center East, and Canada.

Roark is predicated in Atlanta and makes a speciality of franchised companies, per the AP. It bought Subway sandwiches in 2023 and backs a slew of restaurant chains, from Jimmy John’s to Jamba Juice.

^{Dave’s Scorching Rooster Sliders – Courtesy of Dave’s Scorching Rooster}