Hooters of America Sold

Nord Bay Capital and its advisor TriArtisan Capital Advisors LLC have closed on a transaction to acquire Hooters of America LLC (HOA) from H.I.G. Capital, Chanticleer Holdings and other investors.

Financial terms of the deal were not disclosed. As part of the transaction, the selling entities will each retain a stake in the company.

Hooters of America, LLC, is the franchisor and operator of more than 430 Hooters restaurants in 38 states and 27 countries. Hooters is known for its world-famous Hooters style chicken wings since 1983.

“Hooters is an iconic global brand that has shown strong financial growth and development. With nine consecutive quarters of same store sales growth and 13 consecutive quarters outperforming the casual dining bar & grill category, we see Hooters as a real jewel in the restaurant category,” said William Pepper, Principal, Nord Bay Capital.