Company Overview - Dave's Hot Chicken started as a $900 pop-up in 2017 and has expanded to over 345 stores worldwide, up from seven locations in early 2020 [1] - The company entered the billion-dollar club after being acquired by Roark Capital for $1 billion in the summer of 2023 [2] Leadership and Management - The company was founded by childhood friends and is currently led by CEO Bill Phelps, who has a background in the restaurant industry [3] - CFO James McGehee joined in 2019 and has extensive experience in accounting and finance [3][4] - The management team emphasizes a strong work ethic and cultural fit among employees, contributing to the company's success [4] Growth and Financial Performance - Dave's U.S. sales increased by 57% in 2024, surpassing $600 million, driven by a compound annual growth rate (CAGR) of around 40% over five years [6] - The company expects to reach 400 stores by the end of the year [2] Market Trends and Consumer Engagement - Gen Z is a significant driver of fast-food trends, particularly for crispy chicken and bold flavors, which aligns with Dave's offerings [7] - The brand has a strong social media presence with 2 million Instagram followers and over 4 million TikTok followers, aided by celebrity endorsements [7] M&A Process and Financial Structuring - The acquisition process involved thirteen groups submitting offers, with a hybrid asset and stock sale structure that saved shareholders $32 million in taxes [8][9] - The management team ensured that the financial benefits of the sale were shared broadly among employees, enhancing their quality of life [10]