Hulk Hogan’s Real American Beer bids to acquire Hooters after bankruptcy

In March 2025, Hooters, the popular restaurant chain, filed for Chapter 11 bankruptcy, allowing it to restructure its debts and continue operations despite the financial challenges. The company announced that it had reached a restructuring support agreement with the near unanimous backing of its key stakeholders, emphasizing its commitment to maintaining a guest-focused hospitality experience. The Hooters restaurant brand, founded in Clearwater, Florida, maintains its operations even during the bankruptcy proceedings. Amid this backdrop, wrestling legend Hulk Hogan's Real American Beer has emerged as a potential player in revitalizing the Hooters brand by offering an all-cash bid for its intellectual property, a move that aligns with the beer brand’s strategy of acquiring legacy properties that resonate with its mission of entertainment and patriotism. Hogan's beer brand, which recently launched in Walmart stores across eight states, has quickly gained popularity, becoming the official beer of WWE and ranking just behind Samuel Adams in light beer sales. The potential acquisition could mark a significant step not only in revitalizing the Hooters brand but also in expanding the reach of Real American Beer into the restaurant space, establishing deeper connections with consumers and revitalizing a storied American brand. The CEO of Hooters, Sal Melilli, heralded the restructuring efforts as crucial in reinforcing the financial foundation of Hooters, underscoring his commitment to delivering the experienced hospitality and delicious food that customers expect. Should the acquisition proceed, it could reshape the landscape of casual dining and beverage synergy in the restaurant industry.