Sponsor

Roark Capital

10 tracked transactions across restaurant franchising, compiled from public reporting.

Disclosed value counts only deals where a figure was made public. Most private equity transactions never are, so treat this as a floor, not a total.

The timeline

1. date t.b.c.

   Corner Bakery

   Divestiture at a disappointing valuation

   ExitedRestaurant Business Online — How is Roark Capital's track record? It's complicated
2. date t.b.c.

   Naf Naf Grill

   Divestiture at a disappointing valuation

   ExitedRestaurant Business Online — How is Roark Capital's track record? It's complicated
3. 2001

   Carvel

   Acquisition

   HeldRestaurant Business Online — How is Roark Capital's track record? It's complicated
4. 2013

   CKE Restaurants (Carl's Jr., Hardee's)

   Acquisition

   HeldRestaurant Business Online — How is Roark Capital's track record? It's complicated
5. 2018

   Arby's, Buffalo Wild Wings and Sonic Drive-In

   Merger into holding company

   CompletedWikipedia — Inspire Brands
6. 2018

   Jamba

   Acquisition

   HeldRestaurant Business Online — How is Roark Capital's track record? It's complicated
7. 2019

   Jimmy John's

   Acquisition

   CompletedWikipedia — Inspire Brands
8. 2020-10-30$11.3B

   Dunkin' Brands (Dunkin', Baskin-Robbins)

   Acquisition (announced, including debt)

   CompletedCNBC — Inspire Brands to buy Dunkin' Brands Group for $11.3 billion including debt
9. 2024-04-30

   Subway

   Acquisition

   CompletedNation's Restaurant News — Roark Capital completes its purchase of Subway
10. 2025-06$1B

    Dave's Hot Chicken

    Acquisition

    CompletedLos AngelesBarchart — Dave's Hot Chicken sold to Subway owner Roark Capital in a $1 billion deal

Compiled from public reporting. Not investment advice.