From a Parking Lot to a Billion-Dollar Brand: The Rise of Dave’s Hot Chicken
LOS ANGELES — One of the biggest success stories to emerge from the Nashville-style hot chicken trend of the past decade actually has humble beginnings in a California parking lot. What started in East Hollywood with a portable fryer in 2017 has now blossomed into an eight-year-old fast-food empire with over 270 locations nationwide. The brand? Dave’s Hot Chicken, a fiery favorite that’s quickly becoming a household name and could soon be worth a staggering $1 billion.
Founders Arman Oganesyan, Dave Kopushyan, Tommy Rubenyan, and Gary Rubenyan tapped into the growing demand for spicy fried chicken when they launched the business in “Little Armenia,” an area of East Hollywood known for its cultural diversity and vibrant food scene. While the hot chicken craze was heating up, with local favorites like Howlin’ Ray’s and Hotville Chicken gaining popularity, Dave’s Hot Chicken carved its own niche by offering bold flavors and a unique approach to the beloved Southern dish.
Fast forward to today, and Dave’s Hot Chicken is on the verge of another major milestone: an acquisition by Atlanta-based private equity firm Roark Capital Group. According to reports from The Wall Street Journal, the deal could be worth a mind-blowing $1 billion. Roark, one of the world’s largest investors in fast-food brands, already boasts a massive portfolio, including household names like Cinnabon, Auntie Anne’s, Dunkin’, and Baskin-Robbins, and has recently acquired sandwich giant Subway for over $9 billion.
Dave’s Hot Chicken FoundersThis potential acquisition comes hot on the heels of a number of impressive accolades for Dave’s Hot Chicken. In 2022, the brand saw a reported 156% increase in sales, a testament to its rapidly growing popularity. The chain was also named the fastest-growing restaurant by research firm Technomic, and its footprint continues to expand across the country.
Founded during the surge of Nashville-style hot chicken in Los Angeles, Dave’s Hot Chicken found its place in a competitive market and quickly rose through the ranks, positioning itself to become another California-founded fast-food giant in the same league as McDonald’s, Jack in the Box, and In-N-Out — easily recognizable, widely available, and a fixture of American fast-food culture.
In 2021, the brand made headlines when rapper Drake joined as an investor, and since then, high-profile figures such as actor Samuel L. Jackson, journalist Maria Shriver, and Boston Red Sox chairman Tom Werner have also backed the chain. These celebrity endorsements, along with the brand’s explosive growth, have solidified Dave’s Hot Chicken as one of the fastest growing fast-food brands in the industry.
