Back to search
đź”´ PRIVATE EQUITY OWNED
Arby's
fast food · Atlanta, GA
PE Firm
Roark Capital
Acquirer
Inspire Brands
Year Acquired
2011
“They had the meats. Then Roark Capital had the receipts.”
The PE Playbook
- •Roark Capital acquired Arby's in 2011 for ~$430M and used it as the foundation for Inspire Brands — a roll-up that swallowed Sonic, Buffalo Wild Wings, Jimmy John's, and Dunkin'
- •Arby's has underperformed the restaurant industry by 23% since acquisition; sales declined 6.3% in 2024
- •Net loss of 48 locations in 2024 alone with closures continuing into 2025 across at least 8 states
- •Roark Capital Partners IV fund generated an annual return of just 0.09% as of 2020 — essentially zero
Since the Acquisition
- ▸Worst performance of all six Inspire Brands chains in 2024 — sales fell 6.3% and a net 48 restaurants closed
- â–¸System sales have slumped 3% since 2021, underperforming the broader restaurant industry by 23% since Roark's acquisition
- â–¸Over a dozen more Arby's locations closed across eight states in early 2025