Roark Capital, a major investment firm with deep roots in the food industry, has finalized a strategic acquisition: the purchase of Dave’s Hot Chicken, a fast-growing

Roark bought Subway in 2023 for $9.6 billion. The firm also backs two holding companies that own multiple restaurant chains including Inspire Brands, the parent of Arby’s, Dunkin’, Jimmy John’s, Sonic and Buffalo Wild Wings, along with GoTo Foods, which owns Auntie Anne’s, Carvel, Cinnabon and Jamba Juice.

But Roark Capital, which owns Subway, is going to have $1 billion less of those bucks in the short-term because it has reportedly closed a deal to buy Dave’s Hot Chicken.