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SOURCE: Subway Read more Astonishing scale of Subway's demise revealed Subway closed approximately 631 locations in the US last year, making the nation's store count be 19,502 Subway was acquired ...

One of the hottest names in chicken restaurants has a new owner. Roark Capital, the company that owns Subway sandwich chain, has acquired Dave’s Hot Chicken in a $1 billion deal.

The largest fast food restaurant chain in the United States has closed over 600 stores in the past year alone. Subway "lost a net of 631 U.S. restaurants in 2024," QSR reported.

Over 1,600 Subway restaurants closed from the beginning of 2022 to the end of 2024, according to the company's franchise disclosure document.

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The move comes as the chicken chain is expected to open more than 150 new stores this year.

A popular new chicken chain says it has been acquired by a private equity firm that also owns Subway.

Subway remains the nation’s largest restaurant chain, but the number of its sandwich shops nationwide declined for the ninth year in a row in 2024.

Subway lost a net of 631 U.S. restaurants in 2024, continuing a years-long slide. The sandwich chain finished the year with 19,502 domestic units, marking the first time the brand has been below ...

But Roark Capital, which owns Subway, is going to have $1 billion less of those bucks in the short-term because it has reportedly closed a deal to buy Dave’s Hot Chicken.