Schlotzsky's, a 365-unit sandwich chain, has been acquired by Roark Capital Group. Schlotzksy's will join Cinnabon, Carvel Ice Cream and Seattle's Best Coffee as part of Focus Brands, an Atlanta-based group of restaurant companies owned by affiliates of Roark Capital Group. The Schlotzksy's purchase gives Focus Brands $800 million in systemwide sales and 1,765 restaurant locations.
Austin-based Schlotzsky's, which was founded in 1971, was owned and operated by Bobby Cox and his business partners Bob Barnes and Ronny Jordan. Cox will join Focus Brands' board of directors; Schlotzksy's will remain headquartered in Austin.