If you’ve ever asked, “dave’s hot chicken owner?”, here’s the straight-up answer: it’s now majority-owned by a private equity firm — but it began with four friends who built it from scratch.

Let’s trace that journey, see who runs it, and understand how its ownership has changed as the brand skyrocketed from LA pop-up to national chain.

Founding & Founders

The roots of dave’s hot chicken owner go back to 2017 in Los Angeles.

Here’s who started it:

• Dave Kopushyan — Namesake of the brand, one of the original founders.

• Arman Oganesyan — Another founding partner.

• Tommy Rubenyan & Gary Rubenyan — Brothers who co-founded the brand with Dave & Arman.

They launched their first hot chicken stand with minimal resources (just $900 in initial funding) in a parking-lot setting in East Hollywood.

Over time, the brand grew via word-of-mouth, early investor support, and became one of the fastest-growing restaurant chains in the U.S.

Early Investors & Celebrity Stakeholders

Even before its most recent acquisition, Dave’s Hot Chicken had backing from prominent investors and celebrities, helping it scale faster:

• Drake is among its investors.

• Other celebrity investors include Samuel L. Jackson, Michael Strahan, Tom Werner, and Maria Shriver.

These early investors added not just capital, but visibility and credibility — helping the brand expand its footprint beyond Los Angeles.

Present Owner: Roark Capital Group

In June 2025, Dave’s Hot Chicken was acquired by Roark Capital Group, a private equity firm known for investing in franchise or chain-based restaurant brands.

Some key points about this acquisition:

• The deal was valued at about $1 billion.

• Roark Capital now holds majority ownership of Dave’s Hot Chicken.

• Despite the acquisition, the founding team and the existing executive leadership are expected to remain involved.

Leadership & Key People

Ownership is one thing — day-to-day running is another. Here are some of the key individuals today:

Role	Name	Notes
Chief Executive Officer (CEO)	Bill Phelps	Works as CEO. Led expansion.
Founders	Dave Kopushyan, Arman Oganesyan, Tommy & Gary Rubenyan	Still involved as brand founders; their creative input remains part of the company’s identity.

Some more details:

• Bill Phelps had prior restaurant or branded-food experience (co-founding another chain) before joining Dave’s.

• The founding team retains a minority share in the company even after the Roark acquisition.

Why the Ownership Shift Matters

Ownership changes like this are more than paperwork. Here’s why Roark Capital’s ownership is significant:

1. Scale & Expansion Power
   With Roark’s backing, Dave’s can access greater capital, infrastructure help, supply-chain relationships, and franchise-growth expertise.

2. Franchising Expertise
   Roark has experience with other food-service chains. That expertise helps ensure consistent quality and compliance as new locations open.

3. Founders Stay Involved
   While Roark is majority owner, the founders and current leadership remain part of the company’s decision-making. That often helps maintain brand identity even as scale increases.

4. Future Growth Roadmap
   The acquisition paves the way for more international expansion. For example, there are media reports about upcoming European expansion deals under new partnerships.

FAQs: Ownership of Dave’s Hot Chicken

Q1: Who originally owned Dave’s Hot Chicken?
It was founded by four friends: Dave Kopushyan, Arman Oganesyan, Tommy Rubenyan and Gary Rubenyan.

Q2: Is Dave’s Hot Chicken still privately-held?
Yes — as of 2025, it’s privately held. Its major shareholder is Roark Capital, but it’s not a publicly listed company.

Q3: Who is the CEO of Dave’s Hot Chicken?
Bill Phelps is CEO. He oversees operations, expansion, and strategy.

Q4: Do the founders still own part of the business?
Yes — they retain a portion of equity / involvement even though Roark is majority owner.

Q5: Does celebrity backing change the ownership?
Celebrity investors like Drake hold investment stakes, which gives them partial ownership or interest — but they’re not day-to-day operators. Management remains with the CEO and founding leadership.

Conclusion

So: who owns Dave’s Hot Chicken? Right now, it’s majority–owned by Roark Capital Group, thanks to a 2025 acquisition. But the story doesn’t end there — the original founders, the CEO, and celebrity investors are still very much a part of the brand’s identity and operations.

That blend of early passion + celebrity backing + institutional backing is what helps Dave’s scale without losing its original “park-lot pop-up” soul.