Tag:
Roark Capital
Shelton, CT
Business
Subway Hires Former Burger King Executive As CEO To Revitalize Shelton-Based Chain
The nation's largest fast-food chain has picked a former Burger King executive as its new CEO. Jonathan Fitzpatrick will become Subway's chief executive on Monday, July 28, the sandwich company announced in a news release on Monday, July 21. He'll take the role left by John Chidsey, who retired in late 2024 after leading Subway through a $9.6 billion sale to Roark Capital and overseeing several years of steep US restaurant closings. Fitzpatrick was most recently the CEO and president of Driven Brands, an automotive services provider also owned by Roark. "I'm honored to lead this …
Hartford, CT
Business
Trendy Hot Chicken Chain Started In Parking Lot Sold After Passing $600M Sales Mark
A private equity giant is buying a hot chicken restaurant chain that grew from a parking lot to an international brand that's very popular on TikTok. Roark Capital has purchased a majority stake in Dave's Hot Chicken, the restaurant said in a news release on Monday, June 2. Dave's said the sale will help the Los Angeles-based chain grow to more than 400 restaurants worldwide by the end of 2025. The company said it'll remain committed to delivering an "exceptional experience" for customers, employees, and franchise partners. "This is one of the great entrepreneurial journeys …
Shelton, CT
Business
Shelton-Based Subway Closing Hundreds Of Restaurants Yearly, Aims For 'Smart Growth'
The largest fast-food chain in the US is rapidly losing restaurants. Subway closed 631 locations in 2024, QSR Magazine reported on Tuesday, April 29. The sandwich giant ended the year with 19,502 restaurants nationwide – the lowest count in nearly 20 years. The Shelton, Connecticut-based company has shuttered about 7,616 locations in the US since peaking in 2015 with more than 27,000 restaurants. 2024 also marked Subway's largest yearly decline since it lost 1,043 locations in 2021. Despite mass closings, Subway remains the biggest restaurant brand in the US. Starbucks …
Shelton, CT
Business
Subway Opens New Global Dual-Headquarters In Shelton: 'Strategic Relocation'
Iconic sandwich seller Subway has opened a new global dual headquarters in Connecticut. The new Fairfield County office space, located in the city of Shelton at 1 Corporate Dr., is located within 10 miles of the fast food company's former headquarters in Milford, the company announced on Monday, Oct. 23. The new three-floor 90,000 square-foot space is meant to bring improvements for employees and advance the company's "multi-year transformation journey," Subway officials said. "Connecticut has been at the heart of Subway’s story for nearly 60 years," Chief Executive Office…
New Haven, CT
Business
Ct-b
ased Subway Announces Sale: Company Has 'Bright Future,' CEO Says
The iconic sandwich seller Subway, which is headquartered in Connecticut, has announced its sale to a private equity firm. The New Haven County-based fast food company, which is headquartered in Milford, announced that it will be acquired by affiliates of Roark Capital on Thursday, Aug. 24. In a statement, Subway officials said the sale would be a "major milestone" in the company's history. "This transaction reflects Subway's long-term growth potential, and the substantial value of our brand and our franchisees around the world," said Chief Executive Officer John Chid…
