Roark Capital Group, an Atlanta-based private equity firm, is reportedly close to acquiring Dave's Hot Chicken, a Los Angeles-based restaurant chain. According to a Wall Street Journal report, the deal could be valued at around $1 billion and may be announced soon.

Dave's Hot Chicken operates over 200 locations worldwide, including two in Georgia—Conyers and Columbus. The chain, known for its Nashville-style hot chicken tenders and sandwiches, also offers vegetarian options like fried cauliflower. Recently, R&B star Usher became a franchisee, and additional locations are planned in Kennesaw and Savannah.

Roark Capital specializes in franchise and multi-location businesses within the restaurant sector. Founded in 2001 by Neal Aronson, the firm has made significant investments in various restaurant chains. It is a major stakeholder in Focus Brands LLC, which owns popular brands like Auntie Anne's and Moe's Southwest Grill. Roark also backs Inspire Brands Inc., which includes well-known restaurants such as Arby's and Dunkin'.

Last year, Roark acquired Subway, a global sandwich chain, for approximately $9.6 billion. The firm’s focus on the restaurant industry positions it as a key player in the competitive landscape, which includes established names like Chick-fil-A and newer entrants like Raising Cane's.

As Roark Capital moves forward with the potential acquisition of Dave's Hot Chicken, it continues to strengthen its portfolio in the restaurant sector, aiming to capitalize on the growing demand for chicken-centric dining options.