Last Updated ( Thursday, 17 March 2011 19:29 )
DATE_FORMAT_LC2=Thursday,March 17 2011 12:00:00 am EDT   
Hooters Gets New Ownership

hooters_webAtlanta — A group of private investors led by Chanticleer Holdings Inc. of Charlotte, N.C., has purchased controlling interest in Hooters of America, the Atlanta-based restaurant chain known for its chicken wings and scantily clad wait staff. The Chanticleer-led consortium acquired the company from the estate of Robert Brooks, who died in 2006. Financial terms were not disclosed. The investor group also is buying Texas Wings Inc., the largest Hooters franchisee. Hooters of America has 120 restaurants. Texas Wings has 41. The total 161 company-owned locations across 16 states include nearly half of all the domestic Hooters restaurants and more than 33% of the locations worldwide. Chanticleer and its limited partners will be equity holders. Chanticleer Chief Executive Mike Pruitt will sit on the Hooters of America board. Chanticleer previously was a minority investor in the Hooters chain.


SOURCE: Hooters of America

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