Overview

• Roark Capital finalized a near-$1 billion purchase of Dave’s Hot Chicken, marking its entry into the fast-casual hot chicken segment.
• Founders Arman Oganesyan, Dave Kopushyan, Tommy Rubenyan and CEO Bill Phelps will continue leading the chain while holding minority stakes.
• Since its 2017 launch with a $900 investment, Dave’s has expanded to 315 outlets across North America, Europe, the Middle East and Asia.
• The chain generated over $600 million in systemwide sales in 2024 as U.S. fast-casual chicken chains saw sales jump 24 percent last year.
• With Roark’s backing, Dave’s plans to nearly triple its footprint by reaching 1,000 locations worldwide within five years.