Armenian-founded Dave’s Hot Chicken chain sold for $1 billion

Dave’s Hot Chicken, a chicken restaurant chain founded by four Armenian Americans, has been acquired for a record $1 billion by Roark Capital, a company known for its investments in such giants as Dunkin’, Baskin-Robbins, Subway, Arby’s and others. Dave’s Hot Chicken co-founder Arman Oganesyan said that the founding team retained a 30% stake in the company, equally distributed among all partners.

Dave’s Hot Chicken is a fast-casual restaurant chain with a colorful graffiti style. It was founded in 2017 by Dave Kopushian, Arman Oganesyan, Tommy and Gary Rubenyan. Today, the chain has over 320 locations across the US and abroad, turning into a brand recognized around the world.