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The timing is no accident. This is the classic private equity playbook in action. Roark didn’t pay a billion dollars to keep things the same. Their strategy is clear: replace founders with operators who know how to scale fast and squeeze maximum efficiency from every location.
Bitticks isn’t new to the role. After five years as president and COO, he already has deep insight into the business. Phelps lauded him as “a driving force behind the strategic, profitable growth” that expanded operations across nearly 400 restaurants worldwide.
Fast Casual Chaos Creates Opportunity
The past year has been brutal for fast-casual chains. Pieology declared bankruptcy. MOD Pizza warned franchisees that its future was uncertain. Panera admitted it needs a “transformation” after a decade of declining transactions.
Meanwhile, Dave’s Hot Chicken is thriving. The chain reported 56.5% sales growth and nearly 44% unit growth in 2025. It surged 42 spots on the Franchise Times Top 400 list, landing at No. 123 with $636 million in global sales.
Roark clearly saw a winner amid the chaos, while competitors floundered. Their expertise in franchising is unmatched—they already own Dunkin’, Subway, Arby’s, Buffalo Wild Wings, and Jimmy John’s, leveraging each brand to dominate their markets.
Private Equity Means Big Changes
When private equity takes over, they don’t just invest—they integrate. Roark brings international supply chains, cost-cutting capabilities for franchisees, and the muscle to expand globally. Dave’s momentum is strong, but under Roark, growth could go from rapid to exponential. Phelps has set an ambitious goal: 4,000 locations worldwide within a decade. That’s aggressive, even by PE standards.
What This Means for the Industry
With Bitticks in charge, Roark is moving past the “learning phase.” The chain is poised for rapid expansion, strict operational standardization, and ruthless margin optimization. Roark’s portfolio generates $97 billion in annual system revenues across 112,000 locations in 121 countries—they know how to scale fast and extract maximum value.
For every other restaurant chain struggling with inflation, labor shortages, and declining foot traffic, the message is clear: PE-backed brands are moving in, buying market share, and reshaping the landscape. Under leaders like Bitticks, Dave’s Hot Chicken is no longer just a popular fast-casual spot—it’s a blueprint for how private equity turns momentum into empire.
