Dave's Hot Chicken sold to Subway owner Roark Capital in a $1 billion deal

DEE-ANN DURBIN

June 02, 2025

Dave's Hot Chicken said Monday it has been acquired by the private equity firm Roark Capital in a deal valued at $1 billion.

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.

Recommended

Nvidia Is About to Shock the World: July 23rd - Ad

Crypto expert reveals something that could shock you - Ad

Trump's Crypto Blueprint Unveils This Infrastructure Powerhouse - Ad

Venture capitalist Joe Lonsdale is sounding the alarm on Chinese competition in the flying car sector while showcasing American innovation through Joby Aviation Inc., as regulatory delays threaten US market leadership in the emerging eVTOL industry.

Asian shares trade mixed after Wall Street’s rally stalls on U.S. economic data

TOKYO (AP) — Asian shares were mixed on Thursday, as Wall Street’s lost some momentum following a pair of potentially discouraging reports on the American economy.

Major Copper-Nickel Discovery on the Move

Major Copper-Nickel Discovery on the Move - Ad

Copper is called the new oil, with prices hitting decade highs. One junior has two strategic copper-nickel assets already producing high-grade results. Institutions and strategic investors are all in.

Judge and lawmakers question the Trump administration's plan to gut Job Corps centers

Members of Congress and a federal judge are questioning plan to shut down Job Corps centers nationwide and halt a residential career training program for low-income youth that was established more than 50 years ago.

Cloudflare Strengthening, Yet Breakout Unlikely Until 2026

Cloudflare Stock: Structure remains constructive, but a breakout may not unfold until March 2026.

US Military Just Validated This AI Threat Detection Stock

US Military Just Validated This AI Threat Detection Stock - Ad

A $12M security stock just passed one of the toughest national security tests out there - spotting hidden IEDs, plastic explosives, and non-metallic weapons with over 90% accuracy in US military trials. Now it's rolling out in airports, courthouses, and federal labs.

CoreWeave, Nvidia, Wells Fargo, CrowdStrike, Robinhood: Why These 5 Stocks Are On Investors' Radars Today

U.S. stock markets ended the day in the green, with the Nasdaq climbing more than 150 points, up 0.8% to 19,398.86. The S&P 500 advanced 0.58% to finish at 5,970.37, while the Dow Jones Industrial Average added 0.5%, closing at 42,519.64.

Japanese court rejects damage claims against utility executives over Fukushima disaster

TOKYO (AP) — A Japanese court ruled former executives at the utility managing the tsunami-wrecked nuclear power plant were not accountable for the 2011 meltdown crisis and do not need to pay damages to the company.

Former Zillow Execs Target $1.3T Market

Former Zillow Execs Target $1.3T Market - Ad

One co-founded Zillow. The other sold his company to Zillow for $125M. Now they're transforming a $1.3T market via co-ownership. Pacaso's already earned $110M+ in gross profit and reserved the Nasdaq ticker PCSO. But no need to wait.

The euro is about to get a new member, Bulgaria. What's the eurozone and how do countries join?

FRANKFURT, Germany (AP) — European Union officials gave the green light Wednesday for of the euro currency union,, a key EU project aimed at deepening the ties between member countries.

Mullen Automotive, Applied Digital, MongoDB, Netflix, Tesla: Why These 5 Stocks Are On Investors' Radars Today

MULN, APLD, MDB, NFLX, TSLA were among the stocks trending on Wednesday June 4, 2025.

The Biggest Banker In America Sounds the Recession Alarm

The Biggest Banker In America Sounds the Recession Alarm - Ad

JPMorgan Chase CEO Jamie Dimon just confirmed it: a U.S. recession is now likely. But what's not being said? This may be no accident. Trump could be triggering it to force an economic reset. If you're not ready, your portfolio and retirement could take the hit. Time is short.

Tesla Or Neuralink? Elon Musk's Father Reveals Which Of His Son's Ventures 'Fascinates' Him Most: '...Because I know The Least About It'

Errol Musk, the father of Elon Musk, recently shared that while he is fascinated by all of his son's ventures, it is Neuralink that captivates him the most.

How To Earn $500 A Month From Broadcom Stock Ahead Of Q2 Earnings

Broadcom offers an annual dividend yield of 0.90% ($2.36 a year). To figure out how to earn $500 monthly, here's what you do.

No.1 Opportunity for 2025 [Take Action Now!]

No.1 Opportunity for 2025 [Take Action Now!] - Ad

Starlink's potential IPO Could Be the Biggest in History--Silicon Valley insider James Altucher has uncovered a way to profit BEFORE the IPO--with as little as $50. Musk's $180B giant is set to launch--will you miss out? Claim your spot before it's too late.

Chuck Schumer Says If 'TACO Trump' Is Already Folding On Iran, The American People Need To Know: 'One Day, He Sounds Tough, The Next Day He's Backing Off'

Schumer criticizes Trump's possible secret deal with Iran and demands transparency. US offers a proposal allowing limited uranium enrichment.

Major Overhaul Coming For Microsoft Authenticator: Users Advised To Backup Passwords

Users of Microsoft Authenticator are advised to backup their passwords as Microsoft prepares for a significant overhaul of its password management system.

This Could Be the Perfect Copper Play Right Now

This Could Be the Perfect Copper Play Right Now - Ad

Copper prices surge as global supply cracks. One junior mine developer controls 24.7M tonnes of high-grade copper-nickel (Inferred) at its flagship mine-backed by big money and aggressive drilling.

US Tariff Impact: Prices Surge At Walmart And Target, Employees Say—Some Jumps Top 38%

Tariffs imposed by President Trump are reportedly leading to significant price increases at Walmart and Target stores.

Dow Futures Slip Over 100 Points After Trump Announces Doubling Steel Tariffs, Nikkei Down

U.S. Stock futures fell on Sunday evening, starting the new month on a sobering note, amid fresh steel and aluminum tariff concerns over the weekend.

World Economic Forum: "Arguably the Most Exciting Human Discovery Since Fire"

World Economic Forum: "Arguably the Most Exciting Human Discovery Since Fire" - Ad

Sam Altman, Bill Gates, and Mark Zuckerberg are all investing vast sums of money into a radical technology. According to Bloomberg, this could become 10 times bigger than AI, quantum computing, electric vehicles, cryptocurrencies, and robotics combined. And one stock is at the center of it all.

Tucker Carlson Agrees — Trump Organization's Middle East Deals Seem 'Like Corruption'

Tucker Carlson agreed that Trump's Middle East business deals "seem like corruption" after his administration secured massive AI and defense agreements with the same countries, reigniting conflict-of-interest concerns.

Michael Saylor Called Scaramucci From a Yacht and It Changed the Ending of His Book

Anthony Scaramucci, the founder of SkyBridge Capital, shared his journey into the world of Bitcoin (CRYPTO: BTC) that started during his brief stint at the White House. His interest in cryptocurrency has since led him to become a significant player in the digital currency space.

Crypto Genius: This Could Crush Bitcoin in 2025

Crypto Genius: This Could Crush Bitcoin in 2025 - Ad

On June 30th, two powerful "Wealth Drivers" ignite what could be a 2025 super bull run-backed by Trump. One investmentThe altcoin market as a whole has already soared 132,721% over the past ten years and could surge again. A $900 stake could turn into $108K over 12 months. This is The Great Gain of 2025.

Unitedhealth, Snowflake, Navitas, Nike, And Target: Why These 5 Stocks Are On Investors' Radars Today

UNH, SNOW, NVTS, NKE, TGT were among the stocks seen trending on Wednesday, May 21, 2025.

Ex Says Musk Told Her He Fathered Child With Japanese Pop Star, Said He Would Give Sperm To Anyone Who Wanted It

Elon Musk is alleged to have fathered a child with a Japanese pop star. The news, which surfaced on Friday, also includes Musk's offer to donate his sperm to "anyone."

The Countdown To Recession Has Begun

The Countdown To Recession Has Begun - Ad

Alarm bells are blaring: 46 economists now say there's a 47% chance of a U.S. recession-nearly double from weeks ago. But what few admit is this downturn may be intentional. Trump could be forcing a hard reset. If this "Recession Purge" hits, those unprepared may be crushed financially.

Sam Bankman-Fried's Early Release, Schiff Vs Vance, Bitcoin's Fall, And Trump's Meme Coin Dinner: This Week In Crypto

The past week was a rollercoaster ride in the world of finance and cryptocurrency. From the early release of a notorious fraudster to a heated debate over Bitcoin’s value, the weekend was packed with intriguing stories. Here’s a quick recap of the top stories that made headlines. Sam Bankman-Fried’s Early Release

Microsoft Pulls Ahead In AI Race With Key Partnerships Across OpenAI, Nvidia, And Elon Musk's xAI

Microsoft showcased new products and collaborations with OpenAI, Nvidia, and Elon Musk's xAI at its Build conference, focusing on AI models for Azure clients.

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs!

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs! - Ad

Trump just launched a $1 trillion National Investment Fund to replace income taxes and send direct payouts to Americans. You could claim up to $21,307--before the first public checks go out. This is historic. Act now to be first in line.

Southwest's New Battery Policy In Spotlight After A Smoking Battery Charger Diverts Flight

A Southwest Airlines flight diverted to South Carolina after a passenger's battery pack started smoking days after new portable charger policy

Trump Says He Is Having Elon Musk Over At The White House Tomorrow For A Press Conference As Billionaire Exits Government: 'This Will Be His Last Day, But Not Really…'

Donald Trump will host Elon Musk at the White House to mark his departure as DOGE chief, though Musk will continue to advise the administration.

Elon's Greatest Invention... Hidden in South Memphis?

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

The bond market is shaking Wall Street again, this time because of worries about tax cuts

NEW YORK (AP) — Wall Street’s quiet corner is making noise again.

Morris Chang Saw Writing On The Wall 20 Years Ago For The Likes Of Intel And Samsung And Why They Would Never Be Able To Beat TSMC In Foundry Business

In 2007, TSMC founder Morris Chang predicted that Intel and Samsung couldn't succeed in the foundry business due to fundamental cultural differences—and nearly two decades later, his foresight is proving accurate as TSMC maintains dominance while its rivals struggle to catch up.

The Cross-Chain Giant Set for 1,000%+ Gains

The Cross-Chain Giant Set for 1,000%+ Gains - Ad

This multi-chain protocol's volume is exploding while its price is still under the radar. Institutions are moving in fast-get our urgent report before retail wakes up.

Toll Brothers, D-Wave Quantum, Palo Alto Networks, Warby Parker, Tesla: Why These 5 Stocks Are On Investors' Radars Today

U.S. stock markets experienced a downturn today, with the Nasdaq dropping over 75 points or nearly 0.4% to 19,142.71.

10 Risks To America's Economic Future: High Prices, Housing Woes, Student Loans And More

Here are key downside risks to the U.S. economy identified by Dr. Torsten Slok, chief economist for Apollo Global.

Hedge Fund Legend Humiliates Bitcoin Traders

Hedge Fund Legend Humiliates Bitcoin Traders - Ad

Larry Benedict made $274M on Wall Street for his fund. Now he's applying that same expertise to Bitcoin - showing how to potentially collect fast payouts like $4,898+ again and again... without owning crypto. No wallet. No bull run. Just one signal. One move. And it's all revealed for free.

Trump meets with the Federal Reserve chairman he has repeatedly scorned

WASHINGTON (AP) — President Donald Trump met with Federal Reserve Chair Jerome Powell on Thursday and the two discussed the economy but not Powell's outlook for interest rates, the Fed said.