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Chanticleer Holdings, Inc. Message Board

  • investorgold investorgold Jan 25, 2011 8:15 AM Flag

    Hooter changes hands

    Hooters changes hands
    South Florida Business Journal
    Date: Monday, January 24, 2011, 3:50pm EST Related:
    Retailing & Restaurants
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    Hooters of America completed a deal to transfer ownership of the Atlanta-based restaurant chain from the estate of Robert H. Brooks into the hands of a consortium of private investors, including Chanticleer Holdings of South Africa.

    Also as part of the transaction, the investor group will buy Texas Wings Inc., the largest Hooters franchisee. Hooters of America has 120 restaurants; Texas Wings has 41. The 161 company-owned locations across 16 states equal nearly half of all domestic Hooters restaurants and more than 33 percent of the locations worldwide.

    Financial terms were not disclosed.

    The deal brings to an end nearly three decades of Brooks family ownership of the franchiser of Hooters restaurants. Robert H. Brooks bought the chain in 1984 and grew it into 452 restaurants in 44 states and 29 countries. He died in 2006.

    Read more: Hooters changes hands | South Florida Business Journal

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