Hooters changes hands South Florida Business Journal Date: Monday, January 24, 2011, 3:50pm EST Related: Retailing & Restaurants Enlarge Image
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.
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