ExtractedValue
HomeIndustriesGuideNewsletter
EXTRACTEDVALUE

Track how private equity impacts your favorite brands. Get alerts when companies you care about are acquired.

Explore

  • About
  • Methodology
  • Newsletter

Legal

  • Privacy
  • Terms

© 2026 Extracted Value. All rights reserved.

Shining a light on PE ownership.

← Back to Search
AR

Arby's

restaurants
PE-OWNED

Fast food chain known for roast beef sandwiches.

PE-OWNED

Acquired by Roark Capital2011-07-01

View PE Firm Profile

What Made It Great

“

We Have The Meats - quality roast beef and deli sandwiches.

What PE Will Likely Do

Predictions

Arby's will transition to using lower-quality, frozen roast beef instead of their traditional fresh, slow-roasted beef

HIGH LIKELIHOODBased on: Roark Capital's track record of using common private equity tactics in the restaurant industry, including portion reduction, ingredient substitution, and menu engineering

Portion sizes for Arby's signature roast beef sandwiches will be reduced while prices remain the same or increase

HIGH LIKELIHOODBased on: The industry playbook showing that these tactics are frequently used in 65-85% of restaurant private equity deals

Menu variety will be pared down to focus on high-margin items, with specialty sandwiches and side dishes being eliminated

HIGH LIKELIHOODBased on: Arby's original brand identity being centered around high-quality, freshly-roasted beef

Franchise fees and operational requirements will be increased, putting financial strain on Arby's franchisees

HIGH LIKELIHOODBased on: Arby's original brand identity being centered around high-quality, freshly-roasted beef

Expected Timeline

Phases
0-6 monthsCompleted

“0 to 6 months months”

Minor changes to Arby's menu and pricing begin, with some less popular items removed

6-12 monthsYOU ARE HERE

“6 to 12 months months”

Customers start noticing smaller portion sizes and a decline in the quality and freshness of Arby's roast beef

12-24 months

“12 to 24 months months”

Arby's signature roast beef sandwiches taste noticeably different, with many regular customers complaining about the changes

Similar Cases

Other companies that followed a similar path after PE acquisition

Operating

TGI Friday's

Sentinel Capital Partners·2014

See full case study
Operating

P.F. Chang's

Centerbridge Partners·2019

See full case study
Operating

Outback Steakhouse

Bain Capital·2007

See full case study
Operating

Logan's Roadhouse

KKR·2006

See full case study
Operating

Friendly's

Sun Capital Partners·2007

See full case study

What You Can Do

Take Action

Actions

  • Customers should be vigilant about noticing any changes to the quality, portion sizes, or menu variety at their local Arby's locations

  • Provide feedback to Arby's management and franchisees about any declines in product quality or customer experience

  • Consider patronizing independent, locally-owned sandwich shops that may be able to better maintain quality and service standards

Alternatives

Darden Restaurants (Olive Garden, LongHorn)SAFE

Publicly traded restaurant group

Local independent restaurantsSAFE

Support local businesses in your area

Share this company's PE status
Twitter/XFacebookLinkedIn

"Arby's is now PE-owned. Here's what that means for you."