Drake may have taken a lyrical gut punch from Kendrick Lamar during the Super Bowl, but his investment portfolio is about to come out swinging.
The Hip-Hop superstar’s minority stake in Dave’s Hot Chicken could turn into a massive financial win as the fast-casual chain explores a sale that might value the company at around $1.3 billion, including debt, according to Reuters.
The Los Angeles-based restaurant, originally a humble parking lot pop-up in 2017, has skyrocketed into a fast-food powerhouse with more than 206 locations across the United States, Canada, and the Middle East.
In early 2025, Dave’s Hot Chicken plans to debut its first location in London, further solidifying its international expansion. With private equity firms and major industry players increasingly looking to scoop up fast-casual brands, the company has hired an investment bank to navigate the sale process.
For Drake, who became “one of the largest individual investors” in the company after tasting the food and meeting its founders, this could mean a hefty return on investment.
Dave’s Hot Chicken has seen explosive growth, crossing the 200-unit milestone in the first quarter of 2024.
Its specialty—Nashville-style hot chicken—has drawn long lines and loyal customers, fueling its expansion at a breakneck pace. Since stepping in as an investor, Drake has been a vocal supporter, even lending his image to promote the brand.
Details regarding potential buyers remain under wraps, but with surging interest in the fast-casual market, a deal could be finalized as early as February 2025.