Just eight years after starting in a Los Angeles parking lot, Dave's Hot Chicken has been acquired by private equity firm Roark Capital in a deal worth approximately $1 billion to enter its "next phase of growth and innovation."

A spokesperson for Dave's Hot Chicken confirmed the acquisition to USA TODAY via email on Wednesday, June 4.

Started by three childhood friends in a parking lot in Los Angeles in 2017, the chain primarily offers chicken tenders and chicken sandwiches and expects to end the year with over 400 locations worldwide. According to the company, it has sold the rights to more than 1,000 franchise locations in the U.S., Middle East and Canada and will open 155-plus locations this year.

“This is one of the great entrepreneurial journeys of our time, and now we begin t

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