CHAMPAIGN, Ill. – Often considered as one of Subway’s sandwich chain rivals, Jimmy John's, a fast-growing fast-casual restaurant brand in the United States, announced that an affiliate of Roark Capital Group has signed a definitive agreement to acquire a majority interest in the company.

Jimmy John's, which ranked No. 1 on Entrepreneur magazine's 2016 annual Franchise 500 list, has more than 2,500 locations and $2 billion in system-wide sales. Founded in 1983 by Jimmy John Liautaud, the chain is known for serving made-to-order sandwiches and its quick delivery service. The Jimmy John's brand is rapidly expanding its base of independent franchisees, having opened more than 200 locations in each of the last five years, with a new-unit pipeline of more than 1,100 locations to be opened over the next several years. By comparison, Subway has more than 44,000 locations.

“Jimmy has built an amazing business with unlimited potential,” said Neal Aronson, managing partner of Roark. “It's a testament to his vision, commitment to quality, and the team's outstanding execution. We are thrilled to be a part of this iconic brand and look forward to supporting its continued growth.”

Atlanta-based Roark Capital Group’s portfolio includes QSR and fast-casual brands such as Arby’s, Cinnabon, Carl’s Jr. and Hardee’s, Moe's Southwest Grill, Schlotzsky's and Wingstop.