Hooters of America, LLC Acquired by Nord Bay Capital and TriArtisan Capital Advisors
Summary
As part of the transaction, the selling entities will each retain a stake in the Company.Terry Marks, Chief Executive Officer, HOA commented: The partnership with Nord Bay and TriArtisan comes at an ideal time for the company, bringing fresh partners with complementary skills and experience to support our next phase of growth to the benefit of all our employees, franchisees and customers. Our core business is strong with a world-famous and differentiated brand, a first-rate management team and a loyal base of experienced franchisees. I am pleased that all will remain invested in HOA, which speaks to their confidence in the brands positive trajectory and future upside.Hooters of America, LLC, is the franchisor and operator of more than 430 Hooters restaurants in 38 states and 27 countries. Were excited to work with Terry, his senior leadership team, along with the Hooters global franchise community and employees to drive continued success in the years to come.Rohit Manocha, a TriArtisan Founding Partner, said; "As a true innovator in the chicken wing space for over 35 years, Hooters is highly differentiated in a category that is more popular than ever. Terry and the senior leadership team have done a tremendous job elevating the Company and tapping into what todays consumer wants.