Who Owns Culver’s?
Still the Culver family, which holds the majority. A private equity firm bought a minority stake in 2017, and it is the same firm that sits behind Subway, Arby’s and Dunkin.
Of all the chains covered on this site, this is one of the few where the family that started it still controls it more than forty years later.
A family business from the start
Culver’s opened on 18 July 1984 in Sauk City, Wisconsin, as Culver’s Frozen Custard and ButterBurgers. It was founded by four people: George and Ruth Culver and their son Craig Culver with his wife Lea.
The parents were not new to the business. George and Ruth had run an A&W franchise from 1961 and later bought a resort restaurant at Devil’s Lake in 1968, so the family had two decades of restaurant experience before the first Culver’s opened.
Franchising began in 1988. The company is headquartered in Prairie du Sac, Wisconsin, a few miles from where it started.
The 2017 minority sale
On 16 October 2017 the Culver family announced it had sold a minority interest in the company to Roark Capital Group, an Atlanta based private equity firm. At the time Culver’s had more than 600 restaurants across 24 states. The size of the stake was not disclosed.
The stated reason was succession and estate planning. Selling a minority share allowed the family to deal with the question of how ownership passes between generations while staying family owned and privately held.
Joseph Koss, the chief executive at the time, said the partnership would complement the long-term growth of the franchise community. Roark’s Erik Morris said the firm admired the brand’s commitment to culture, quality and service.
The Roark connection
This is the detail most people find surprising. Roark Capital is the same firm that is the principal backer of Inspire Brands, which owns Arby’s, Dunkin, Sonic, Buffalo Wild Wings and Jimmy John’s, and that separately agreed to buy Subway in 2023.
The difference is the size of the stake. At Inspire and Subway, Roark is in control. At Culver’s it is a minority partner and the family decides. The wider Roark story is covered in who owns Arby’s.
Who runs it now
| Role | Person |
|---|---|
| Chairman | Craig Culver, co-founder |
| Chief executive | Julie Fussner, since April 2025, the first woman in the role |
| Majority owner | The Culver family |
| Minority investor | Roark Capital Group, since October 2017 |
Fussner has been blunt about what she thinks drives the business. She has called the requirement for every restaurant to have a present and engaged owner-operator the absolute secret to the company’s success, with absolutely no compromise on it.
How big it is now
Culver’s has grown to more than 1,046 restaurants across 26 states. System sales reached about 3.68 billion dollars in 2024, up 12.1 percent, and the average restaurant now takes more than 4 million dollars a year.
That per-store figure is the number worth noticing. It is roughly three times an average Jersey Mike’s and around eight times an average Subway, which is why the chain can grow slowly and still be one of the strongest franchise systems in the country. Why it grows slowly, and why it is still mostly Midwestern, is covered in why Culver’s is only in the Midwest.
Current prices and the full lineup are on the Culver’s menu.
Related Questions
Who owns Culver’s?
The Culver family holds majority ownership and the company is privately held. Roark Capital Group has owned a minority stake since October 2017, bought as part of the family’s succession and estate planning. Co-founder Craig Culver is chairman and Julie Fussner is chief executive.
Is Culver’s still family owned?
Yes. The Culver family has kept majority control since the first restaurant opened in 1984. Selling a minority stake to Roark Capital in 2017 created an outside investor but did not change who controls the company or make it publicly traded.
Who founded Culver’s?
George and Ruth Culver with their son Craig and his wife Lea, who opened the first restaurant in Sauk City, Wisconsin on 18 July 1984. George and Ruth had previously run an A&W franchise from 1961, so the family already had long experience in fast food.
Does Roark Capital own Culver’s?
Only a minority stake. Roark bought into Culver’s in October 2017 but the family retained majority ownership. That is different from Roark’s position at Inspire Brands and Subway, where the firm is the controlling owner.
Who is the CEO of Culver’s?
Julie Fussner, who became chief executive in April 2025 and is the first woman to lead the company. Co-founder Craig Culver remains chairman of the board.
Is Culver’s publicly traded?
No. Culver’s is privately held and has no publicly traded stock. Keeping the company private and family controlled was one of the stated goals of the 2017 minority sale to Roark Capital.
How many Culver’s restaurants are there?
More than 1,046 across 26 states, with the heaviest concentration in the Midwest. The chain reported about 3.68 billion dollars in system sales for 2024 and an average of more than 4 million dollars in sales per restaurant.
More on Culver’s
About this guide. USA Food Menu is an independent reference site and is not affiliated with Culver’s or Roark Capital Group. Ownership details, sales figures and restaurant counts come from company announcements and published reporting and change over time. Current prices and calories are on the Culver’s menu.
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