Owners since 1984, the Brooks family has sold its ownership of Hooters.
Hooters of America, Inc. (HOA) completed a transfer of ownership of the company from the estate of Robert H. Brooks to a consortium of private investors, including Chanticleer Holdings, Inc. (OTC Bulletin Board: CCLR). In addition, the investor group has purchased Texas Wings Inc., the largest Hooters franchisee, according to a company release.
Brooks, who passed in 2006, acquired Hooters in 1984. Today Hooters has 452 restaurants in 44 states and 29 countries. As a result of the two purchases, the new operating company will own 161 locations across 16 states, which equates to roughly half of the Hooters locations in the U.S., according to a release.
In addition to owning a portion of the parent company, Chanticleer is a Hooters franchisee in South Africa.
2013 Best In Class Winners
See who FE&S readers named this year’s Best In Class winners. Manufacturers were evaluated for product quality, product value, product design and aesthetics, service and support, sales reps, product inventory and available product information. Click here to see the complete results.