Dave’s Hot Chicken has just been acquired by the owners of Subway for a whopping $1 billion. Sheesh. I wish this were a joke, but nope. Restaurant Brands International (RBI), which also owns major brands like Burger King and Tim Hortons,

In a major move that signals both confidence and ambition, Dave’s Hot Chicken has been acquired for $1 billion by Roark Capital, the same private equity powerhouse behind Subway and Dunkin’. This milestone marks the latest chapter in one of the most impressive fast-casual success stories in modern restaurant history.

CBRE arranged the sale of a 200,000-sq.-ft. industrial property located at 18045 Rowland Street in the City of Industry, California.