All articles tagged with #roark capital
Four high school dropouts and unlikely entrepreneurs founded Dave's Hot Chicken, which grew rapidly into a $620 million business and was sold to Roark Capital for $1 billion, with the founders cashing out around $80 million each. The brand's success was driven by social media hype, celebrity backing, and strategic expansion, and the founders remain involved despite the sale.
Roark Capital, owner of Subway, has acquired the popular chicken chain Dave's Hot Chicken in a $1 billion deal, expanding its portfolio and franchise presence amid Subway's recent struggles with declining store numbers.
Roark Capital, owner of Subway, has purchased the fried chicken chain Dave's Hot Chicken in a $1 billion deal, expanding its portfolio which includes multiple fast food brands, despite Subway experiencing a significant decline in its store count over recent years.
A rapidly growing chicken chain, Dave's Hot Chicken, has been acquired by Roark Capital in a $1 billion deal, aiming to expand its presence globally and into nontraditional venues, amidst a rising trend of chicken-focused food industry investments.
Dave's Hot Chicken, a rapidly growing Nashville-style hot chicken chain founded in 2017, has been acquired by private equity firm Roark Capital in a deal valued at $1 billion. The company plans to continue its growth with 400 locations worldwide and will retain its leadership team, including CEO Bill Phelps, as it aims to expand further and innovate in menu offerings.
Roark Capital has acquired a majority stake in Daves Hot Chicken, a rapidly expanding fast-food chicken chain valued around $1 billion, with plans to grow internationally and maintain its quality-focused approach, following a successful period of growth and franchising since 2017.
Senator Elizabeth Warren is calling for a government investigation into America's alleged "sandwich shop monopoly" following the private equity firm Roark Capital's $10 billion acquisition of Subway. Warren argues that adding Subway to Roark's existing portfolio of sandwich-serving chains could create a monopoly. However, critics argue that there is still robust competition within the sandwich market, with numerous options available to consumers from grocery stores, convenience stores, coffee shops, non-chain delis, and more. They also highlight the broader range of lunchtime options, including other types of restaurants, which limits the ability of any single entity to raise prices significantly.
Senator Elizabeth Warren has voiced her support for the Federal Trade Commission's (FTC) antitrust probe into the potential acquisition of Subway by private equity firm Roark Capital. The FTC is investigating whether the deal would create a monopoly in the sandwich shop industry, as Roark Capital already owns other sandwich chains such as Jimmy John's and McAlister's Deli. Warren, a leading advocate for antitrust regulation, expressed concerns about potential higher food prices for consumers. The probe comes as part of the FTC's efforts to scrutinize high-profile mergers and acquisitions.
Neal Aronson, the founder and managing partner of Roark Capital, is facing the challenge of turning around Subway after his company won the bid for the struggling sandwich chain for $9.7 billion. Subway has been plagued by closures and franchisee dissatisfaction, losing its title as the largest U.S. restaurant company to McDonald's. Aronson, known for his success in the franchise industry, aims to attract profitable franchisees and revitalize the brand. Subway has recently shown signs of improvement, with consecutive quarters of growth in same-store sales, but faces competition from Jersey Mike's. Aronson's buy-and-hold strategy and success in turning around brands like Arby's make him a respected figure in the industry.
Subway's $9.6 billion sale to Roark Capital could face increased antitrust scrutiny due to the strict competitive rules outlined in Subway's franchise agreement. The agreement defines Subway's competition as quick-service restaurants within three miles that generate over 20% of their revenue from sandwich sales. Some of the chains owned by Roark, such as Arby's and Jimmy John's, fit this definition. The franchise agreement's restrictions could raise concerns with regulators, who will evaluate the potential impact of the merger on the market. Subway and Roark are expected to argue that the resulting conglomerate would still be smaller than the overall US fast-food industry.
Subway, the sandwich chain, has announced that it will be acquired by affiliates of Roark Capital, the parent company of Jimmy John's and other restaurant franchises. The transaction marks a significant milestone in Subway's transformation journey, combining its global presence and brand strength with Roark's expertise in the restaurant and franchise business models. Roark Capital manages $37 billion in assets and specializes in consumer and business service companies, particularly in the retail, restaurant, and franchise sectors. The sale price was not disclosed, and the completion of the acquisition is subject to regulatory approvals and customary closing conditions.
Private equity firm Roark Capital has acquired Subway, the sandwich company, for $9.6 billion. The deal, one of the biggest fast food acquisitions ever, does not include the earn-out. Roark Capital, with a $37 billion asset value, has an extensive food portfolio that includes brands like Arby's, Auntie Anne's, and Buffalo Wild Wings. Subway plans to focus on sales growth, menu innovation, restaurant modernization, enhancing the guest experience, and global expansion. The company has faced rising competition and a decline in market share but experienced a 9.85% rise in same-store sales during the first half of 2023.
Subway, the global sandwich chain, has announced that it will be sold to private equity firm Roark Capital, known for its expertise in restaurant management. The terms of the deal were not disclosed. The acquisition is expected to help Subway expand and improve its stores, with plans to modernize restaurants and expand internationally. Despite being one of the world's largest restaurant chains, Subway has been losing market share in the US to competitors like Panera and Firehouse Subs. The company has been making efforts to revitalize its menu and attract customers. Subway's global same-store sales have shown positive growth, and the company has invested in remodeling its US restaurants.
Sandwich chain Subway is reportedly close to finalizing a deal to sell to Roark Capital, the parent company of Arby's, for around $9.6 billion. Roark has pulled ahead of rival suitors TDR and Sycamore in the bidding war. Subway, which has more than 37,000 restaurants worldwide, announced in February that it would be pursuing a sale as part of its efforts to revamp its operations and address declining profits. JPMorgan Chase & Co. is Subway's financial adviser in the sale process.
Roark Capital, the owner of Arby's and Buffalo Wild Wings, is reportedly close to finalizing a deal to acquire sandwich chain Subway for approximately $9.6 billion. The deal, which could be completed this week, comes after Subway announced in February that it was exploring a possible sale. Private equity firms TDR Capital and Sycamore Partners were also in talks to acquire Subway, but it remains uncertain whether they can meet the company's price expectations. Roark Capital primarily invests in franchised consumer and business services sectors and owns Inspire Brands, which includes Arby's, Baskin-Robbins, Buffalo Wild Wings, and Dunkin'. Subway, founded in 1965, has over 37,000 restaurants in more than 100 countries and has seen a 9.3% increase in same-store sales in North America for the first half of 2023.