What is Coby Brooks’ net worth?
Coby Brooks, an American businessman and entrepreneur, has a net worth of $20 million. He is known for his former roles as the president and CEO of the Hooters restaurant chain and Naturally Fresh, a condiment manufacturer.
Brooks took over these companies from his father, Robert H. Brooks, who founded Naturally Fresh and purchased Hooters. Following Robert’s death, Coby gained a controlling interest in his father’s estate, which led to a dispute with his stepmother, Tami.
In 2009, Coby settled with Tami after she sued the estate, and the settlement amount was not disclosed. Coby later appeared on the CBS reality show Undercover Boss in 2010.
After selling Hooters in 2011, Brooks became a franchisee for Twin Peaks, another breastaurant chain. Currently, he earns a salary of $1 million.
Coby Brooks Early Life
Coby Brooks was born on May 17, 1969 in Atlanta, Georgia to Robert H. Brooks, founder of Eastern Foods, and has a younger half-sister named Boni. He attended Clemson University in South Carolina for his higher education.
Coby Brooks’ Career in Hooters and Naturally Fresh
Coby Brooks took over as president and CEO of Hooters and Naturally Fresh in 2003, succeeding his father. Naturally Fresh produces various food products such as sauces, marinades, and salad dressings for restaurants including Hooters. Under Brooks’ leadership, Hooters expanded to over 425 stores worldwide and he became chairman after buying majority control in 2002.
After his father’s passing in 2006, Brooks gained controlling interest in both companies. He sold Hooters to a private equity firm in 2011, which later became a franchisee of Twin Peaks. Brooks currently operates Twin Peaks restaurants through his holding and management company, La Cima Restaurants. In 2013, Naturally Fresh was purchased by TreeHouse Foods.
Legal Dispute over Coby Brooks’ Father’s Estate
Following the passing of Coby Brooks’ father, a legal dispute arose between Coby and his father’s widow Tami regarding the distribution of the estate. South Carolina’s elective share law entitled Tami to a 30% share of the estate, which she did not receive despite being bequeathed with $1 million per year for 20 years. The estate was divided with 30% going to Coby, 30% to his underage half-sister Boni, 30% to other family members, and 10% to Clemson University. The final settlement between Tami and Coby remains undisclosed, with Coby seeking outside investors to cover the costs.
Coby Brooks Appears on “Undercover Boss” in 2010
Coby Brooks appeared on an episode of “Undercover Boss” in 2010, a CBS reality television series. He worked at the Naturally Fresh factory in Atlanta, where he received feedback from an employee who stated that the company had declined since the passing of Brooks’ father. The employee was not aware that Brooks was “undercover.”
Brooks’ Property on Hunting Preserve Listed for $4 Million
Brooks inherited a 30% share of his late father’s estate and also owned a 790-acre hunting preserve property straddling Georgia and Florida. The property includes a 2,605-square-foot main house with two bedrooms, two bathrooms, and two bunk rooms. The house is located next to a fishing pond and a covered deck. In 2022, Brooks listed the property for just over $4 million.
