Hooters, the iconic American restaurant chain known for its wings, beer, and hospitality, filed for Chapter 11 bankruptcy in March—but closing its doors was never on the table.
In a statement released at the time, Hooters confirmed it had entered into a Restructuring Support Agreement (RSA) that garnered near-unanimous backing from its key stakeholders. The move, filed under Chapter 11 bankruptcy protection, allows the company to restructure its debt while continuing operations uninterrupted.
Now, in a bold turn of events, Hulk Hogan’s Real American Beer is emerging as a potential acquirer of Hooters’ intellectual property in an all-cash deal, according to a source familiar with the matter who spoke to FOX Business Digital.
A Patriotic Power Move
The proposed bid signals a strategic leap forward for Real American Beer, a growing lifestyle brand that blends all-American values with contemporary appeal. Acquiring Hooters’ legacy assets would not only enhance the beer brand’s national footprint but also position it to reinvigorate a storied brand across diverse consumer touchpoints—including retail, digital content, gaming, and experiential marketing.
According to insiders, the goal is to relaunch Hooters with a refreshed identity that speaks to a new generation—while staying true to the chain’s roots in hospitality, fun, and community spirit.
A Shared History
The connection between Real American Beer and Hooters is more than business—it’s personal. Both brands were born in Clearwater, Florida, and Hooters was one of the first establishments to carry Real American Beer when it launched. The synergy between the two is evident, making this potential acquisition feel like a natural evolution.
Real American Beer, which debuted less than a year ago, has seen rapid growth. The brand is now available in Walmart stores across eight states and holds the distinction of being the official beer of WWE. It trails only Samuel Adams in popularity among pale ales, according to recent sales data.
The name “Real American” is a nod to Hulk Hogan’s legendary entrance music—an anthem synonymous with strength, pride, and national spirit. That ethos now drives the company’s mission to build a lifestyle platform that resonates with modern consumers seeking authenticity, entertainment, and community.
Hooters Keeps the Lights On
Despite its bankruptcy filing, Hooters restaurants have continued operations as usual. CEO Sal Melilli emphasized the company’s resilience and dedication to its customer base.
“Today’s announcement marks an important milestone in our efforts to solidify Hooters’ financial foundation and continue to deliver the guest-centric hospitality experience and delicious food that our customers and communities have come to expect,” Melilli said in March.
While the full terms of the acquisition have not yet been disclosed, the deal—if finalized—could redefine what both brands represent in today’s competitive consumer landscape. From nostalgic dining to patriotic branding, the future of Hooters may very well be shaped by Hogan’s beer-fueled empire.
One thing’s for certain: the story of Hooters isn’t ending—it’s being rebooted, one sip at a time.
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