Dave’s Hot Chicken said Monday it has been acquired by private equity firm Roark Capital in a deal valued at $1 billion.

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.

Roark Capital, owner of Shelton-based Subway, acquires Dave’s Hot Chicken for $1 billion, expanding its fast-food portfolio.