Hooters Morrison Foerster advised Hooters Inc., together with its partner Hoot Owl Restaurants LLC, independent franchisee operators of Hooters restaurants, in connection with a series of restructuring transactions and the acquisition of more than 110 corporate-owned Hooters restaurants. As a result of the transaction, Hooters Inc. and Hoot Owl Restaurants LLC now collectively own and operate approximately 70% of Hooters’ domestic locations, with Hooters Inc. having assumed control of and responsibility for management of the Hooters brand. The transaction transformed Hooters Inc. and Hoot Owl Restaurants LLC into the principal operators of Hooters restaurants, with Hooters Inc. serving as the brand’s steward into the future. As a result of these transactions, the Hooters brand will once again be in the hands of highly experienced Hooters franchisees, and we will be well-positioned to return this iconic brand to its historic success.” Neil Kiefer, CEO of Hooters, Inc. 18 Morrison Foerster
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