Feb 25 (Reuters) - Private equity firm Roark Capital has signed a deal to acquire restaurant chain Dave's Hot Chicken for roughly $1 billion, according to sources familiar with the matter.
The acquisition will make Dave's part of a company whose portfolio also includes restaurants such as Arby's and Culver's.
The Pasadena, California-based fried-chicken chain was working with investment bank North Point on a sale process and had attracted interest from private equity firms, Reuters exclusively reported earlier this month.
Roark Capital manages $38 billion in assets. Its talks with Dave's were first reported by the Wall Street Journal.
(Reporting by Abigail Summerville in New York and Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)
((Niket.Nishant@thomsonreuters.com))
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