Who Owns Dave’s Hot Chicken? Ownership & Investors Explained

Introduction

Dave’s Hot Chicken has quickly risen from a small-time pop-up stand to a nationwide sensation, specializing in Nashville-style hot chicken.

Founded in 2017 by a group of friends in Los Angeles, the brand quickly gained traction due to its unique spice levels and high-quality chicken tenders.

With rapid expansion fueled by social media and word-of-mouth, the company has successfully transitioned into a franchise model, opening locations across the U.S. and even internationally.

Its distinctive branding, celebrity endorsements, and a strong customer base have helped it carve out a niche in the highly competitive fast-food industry.

As Dave’s Hot Chicken continues its impressive growth, questions about ownership and financial backing naturally arise.

Who actually owns Dave’s Hot Chicken? Is it still run by the original founders, or have larger corporations taken over? Understanding the brand’s ownership structure provides insight into its business strategy, expansion plans, and the people behind its success.

From its parent company to major shareholders, exploring the financial backbone of Dave’s Hot Chicken reveals how it operates and what the future holds for this fast-growing chain.

Who is Dave’s Hot Chicken’s Parent Company?

Dave’s Hot Chicken operates under Dave’s Hot Chicken Franchising, LLC, which manages its brand operations and franchise agreements.

Unlike some fast-food chains owned by massive corporations like Yum! Brands or Restaurant Brands International, Dave’s Hot Chicken remains independent, meaning it is not controlled by a single large parent company.

Instead, the brand is primarily overseen by its co-founders and a group of investors who have provided capital and strategic direction.

This independence allows Dave’s Hot Chicken to maintain control over its branding, menu innovation, and expansion strategies while leveraging franchise partnerships to scale its business.

Despite lacking a traditional corporate parent, Dave’s Hot Chicken has still attracted significant outside investment.

Notably, in 2021, pop superstar Drake became a major investor, joining a roster of high-profile backers, including movie producer John Davis and prominent restaurateurs.

These investments have helped the company expand aggressively while maintaining a level of operational independence.

However, as the company continues to grow, it is possible that a larger fast-food conglomerate may acquire a controlling stake in the future, similar to what has happened with other popular chains.

Dave’s Hot Chicken’s Ownership History

Dave’s Hot Chicken was founded in 2017 by four friends—Dave Kopushyan, Arman Oganesyan, Tommy Rubenyan, and Gary Rubenyan—who started selling hot chicken from a small parking lot stand in Los Angeles.

Their goal was simple: to serve high-quality, flavorful, and spicy chicken that stood out from existing fast-food options.

Thanks to viral social media buzz and long lines of customers eager to try their signature dishes, the business quickly outgrew its humble beginnings.

Within a year, they opened their first official restaurant, marking the start of their journey toward becoming a major fast-casual chain.

As demand grew, the company shifted to a franchise model, allowing rapid expansion beyond Los Angeles. By 2019, the brand had secured financial backing from major investors, helping it open multiple locations nationwide.

One of the biggest milestones came in 2021 when Drake, alongside private equity firms and industry veterans, purchased a significant stake in the company.

With backing from influential figures in entertainment and food service, Dave’s Hot Chicken has continued to grow at an unprecedented rate, solidifying its place among the fastest-growing restaurant franchises in the United States.

Dave’s Hot Chicken’s Shareholder Structure

Dave’s Hot Chicken’s ownership is divided among its co-founders, franchise investors, and several high-profile shareholders.

While the original four founders remain involved in the brand’s vision and operations, they no longer own the company outright.

Instead, the business has attracted significant external investment, allowing it to expand aggressively through franchising.

One of the most notable investors is Canadian rapper Drake, who publicly announced his stake in the company in 2021.

While his exact ownership percentage is not publicly disclosed, his involvement has undoubtedly boosted the brand’s visibility and appeal.

In addition to Drake, Dave’s Hot Chicken has received financial backing from well-known investors such as John Davis, who is famous for producing blockbuster Hollywood films, and a group of seasoned restaurant executives.

These investors have provided both financial support and strategic guidance, ensuring that the company scales effectively while maintaining quality.

Despite these external investments, the company remains privately held, meaning there is no public trading of its shares.

As the brand continues to expand, its shareholder structure may evolve, potentially opening the door for new investors or even a future public offering.

Conclusion

Dave’s Hot Chicken has evolved from a modest pop-up stand into a major force in the fast-casual dining industry, thanks to a combination of strong branding, viral marketing, and strategic investments.

While the company remains independent, it has attracted significant backing from private investors, including celebrities and restaurant industry veterans.

Unlike many large fast-food brands owned by corporate giants, Dave’s Hot Chicken operates under its own franchise management structure, allowing it greater flexibility in decision-making and expansion.

The brand’s ownership model has played a crucial role in its rapid growth, enabling it to open new locations at an unprecedented pace.

As more investors take notice of its success, the company could see further shifts in its ownership structure, potentially leading to an acquisition or public offering in the future.

For now, Dave’s Hot Chicken remains a privately held business, driven by a mix of entrepreneurial vision and strategic investment, making it one of the most exciting brands in the fast-food industry today.