Our Story - How We Got Here
Chanticleer became involved with Hooters as a result of a personal relationship between its CEO, Mike Pruitt, and the legendary founder of Hooters of America, Inc. ("HOA"), Robert Brooks. In 2006, Chanticleer purchased a minority ownership interest in HOA for $5 million. In exchange, Chanticleer was also given the right of first refusal to buy HOA, the parent company of Hooters, in case of a future change in ownership of HOA.
In January of 2011, Chanticleer exercised this first right and brought together a group of noteworthy private equity investors to acquire HOA, including H.I.G. Capital, KarpReilly, LLC and Kelly Hall, president of Texas Wings, Inc., the largest Hooters franchisee in the United States. Today, HOA is an operator and the franchisor of over 412 Hooters® restaurants in 28 countries. In addition to Chanticleer maintaining its ownership stake in HOA, its CEO, Mike Pruitt, is also a member of HOA's Board of Directors.