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Roark Capital raises $6.5 billion

Roark Capital raises $6.5B

Owner of Arby’s, Buffalo Wild Wings signals more acquisitions could be ahead

Atlanta-based private-equity firm Roark Capital Group — whose portfolio includes such restaurant brands as Arby’s, Buffalo Wild Wings, Carl’s Jr. and Moe’s Southwest Grill — has completed $6.5 billion in fundraising for two funds, signaling that further expansion is likely on the horizon.

Both funds — Roark Capital Partners V and Roark Capital Partners II Sidecar — easily exceeded the firm’s targets, according to a statement from the company.

Roark president Paul Ginsberg described the funds as “extremely important milestones” for the firm.

“We are enormously grateful for the continuing support of our longstanding partners and are excited to welcome new partner relationships to the Roark family,” Neal Aronson, founder and managing partner at Roark said in a statement.

Aronson, who ranked second on Nation’s Restaurant News 2018 Power List, has led Roark Capital into a strong year of acquisitions.

The firm already owns 65 multiunit brands, many of which are restaurant chains, and in November 2017 acquired Buffalo Wild Wings for $2.4 billion and launched restaurant group Inspire Brands, which also includes Arby’s and Rusty Taco. Inspire Brands is also poised to acquire Sonic Drive-in for $2.3 billion, in a deal announced in late September.

At the time of the Buffalo Wild Wings acquisition, Inspire Brands CEO Paul Brown said the company is looking to “enable outsized investments in long-term growth initiatives.”

Roark Capital did not respond to a request for additional information.

Email Joanna Fantozzi at [email protected] 

Follow her on Twitter: @JoannaFantozzi

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