CHARLOTTE, NC - (Marketwired - September 04, 2013) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), a minority holder in the privately held parent company of the Hooters brand Hooters Of America, and a franchisee of international Hooters restaurants, issued a corporate update for shareholders.
As previously announced, the Company has signed a Binding Letter of Intent to acquire an existing location in Nottingham, England, which is anticipated to close not later than October 31, 2013, and will bring the number of restaurants the Company operates to seven. The Company expects further expansion in the UK market and sees it as an extraordinary opportunity for the Company and the Hooters brand. The stated goal at the beginning of the year was to have ten Hooters restaurants opened under the Chanticleer umbrella. The Company is progressing with the additional Australian restaurant in Townsville, recently announced the signing of a lease agreement for the Pretoria, South Africa location, and is planning for a restaurant in Rio de Janeiro which, if successful, would hit our stated goal.
The Company is also reviewing several partnership opportunities with existing franchisees as the Hooters™ chain executes on its stated goal of remodeling and refurbishing the chain's 460 plus restaurants, while growing new stores both domestic and international. Transactions of this nature would expedite our growth significantly.
The Company also previously announced a signed Non-Binding Letter of Intent to acquire American Roadside Burgers, Inc. ("ARB"), a fast casual burger chain with 5 existing restaurants, with an anticipated closing of no later than September 30, 2013. ARB will bring to the Company revenue, opportunity and diversification into the explosive fast casual burger model. The Company plans to expand the chain domestically and potentially into international markets.
Mike Pruitt, Chairman and Chief Executive Officer of the Company stated: "I wanted to give a brief consolidated update on our company and our team as we recently expanded with the addition of April Miller as Director of Training. I have been extremely active the last several months and feel a great deal of momentum building for our company, with the recent LOI's and funding to execute on these projects as well as progress on other ventures. I'm excited about our future and look forward with great optimism. In addition to our corporate initiatives I'm making a definitive effort to visit with our shareholders and Wall Street professionals, to share our story and vision of the future."
I am pleased to share that Alexander Capital L.P., www.alexandercapital.biz , has agreed to assist with shareholder inquiries, please call 1 855 288 ALEX, feel free to contact them regarding the recent activities of the company.
Chanticleer Holdings (HOTR) is focused on expanding the Hooters® casual dining restaurant brand in international emerging markets. Chanticleer currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional international opportunities. The Company currently owns and operates in whole or part of six Hooters restaurants in its international franchise territories: Durban, Johannesburg, Cape Town and Emperor's Palace in South Africa; Campbelltown in Australia; and Budapest in Hungary.
In 2011, Chanticleer and a group of noteworthy private equity investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly Hall, president of Texas Wings Inc., the largest Hooters franchisee in the United States, acquired Hooters of America, a privately held company. Today, Hooters of America is an operator and the franchisor of over 430 Hooters® restaurants in 28 countries. Chanticleer maintains a minority ownership stake in Hooters of America and its CEO, Mike Pruitt, is also a member of Hooters' Board of Directors.
For further information, please visit www.chanticleerholdings.com.
For further information on Hooters of America, visit www.Hooters.com.
Any statements that are not historical facts contained in this release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
Chanticleer Holdings, Inc.
704.366.5122 x 1