Consortium Buys Atlanta-Based Hooters Restaurants

ATLANTA (AP) - A group of private investors is buying the Atlanta-based Hooters of America Inc. and its restaurant chain.

A deal announced Monday will give a consortium of private investors including Charlotte, N.C.-based Chanticleer Holdings Inc. ownership of nearly half of all domestic Hooters restaurants and more than one-third of those worldwide.

The sales price was not disclosed.

Hooters of America has about 90 employees in its Atlanta headquarters.

The transaction ends nearly three decades of family ownership of
Hooters, which started in Clearwater, Fla.

The Atlanta Journal-Constitution reports the deal will combine 120 restaurants from Hooters of America and 41 from Texas Wings, creating an operating company with 161 locations in 16 states.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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