Breastaurant Chain Hooters Acquired by Two Private Equity Firms | Eater
"A long-running restaurant chain long associated with revealing server uniforms and dated dining-room design, it was run by Atlanta businessman Robert H. Brooks and his family for nearly three decades before being sold to investment groups in 2011; it recently changed hands again in a purchase by Nord Bay Capital and TriArtisan Capital Advisors (with Chanticleer and H.I.G. retaining stakes). The company operates roughly 430 restaurants in 27 countries, has closed about 7% of its locations over a recent four-year period, and is pursuing a brand-wide rethink because elements from the name to the room design and server attire are seen as out of step with younger diners. Leadership says the sale terms were not disclosed but that the business plans further development of new concepts after encouraging early results." - Greg Morabito
