Reuters reports that the Nashville-style hot chicken brand, which made its UK debut late last year with a restaurant on the corner of Shaftesbury Avenue and Rupert Street, was working with investment bank North Point on a sale process and had attracted interest from private equity firms.
Sources familiar with the matter confirmed the acquisition to Roark Capital, whose portfolio already includes major US restaurant brands such as Arby’s and Subway, the latter of which it bought last year.
Dave’s Hot Chicken was founded by childhood friends Dave Kopushyan, Arman Oganesyan and Tommy Rubenyan in 2017 as a pop up in LA and went on to open its first bricks and mortar site in East Hollywood the same year.
It now boasts more than 200 sites across America, as well as locations in Canada and the Middle East, and counts actor Samuel L. Jackson and singer Usher among its backers.
The brand’s arrival in the UK is the result of a partnership with Azzurri Group, which is aiming to open 60 sites under the brand across the UK & Ireland in the coming years.
Speaking to Restaurant back in January, Jim Attwood, Dave’s Hot Chicken UK managing director, said the group is hoping to open three or four more sites in 2025 with a focus on not only growing the brand in London, but also taking its first steps regionally.
“We’re open-minded and considering our options,” he said.
“From an operational simplicity perspective, greater London is easier initially. At some point we’re going to have to go to another city, though. And if we’re confident, which we are, then we should take that step sooner rather than later.”