Chanticleer Holdings Expands Hooters Franchise Agreement in Brazil
CHARLOTTE, NC - (Marketwired - December 04, 2013) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) ("Chanticleer Holdings" or "the Company"), a minority owner in the privately held parent company of the Hooters® brand, Hooters of America, and a franchisee of international Hooters restaurants, today announced the expansion of its Hooters franchise agreement previously announced in March 2012. The Company has partnered with Wings Brasil Restaurante Ltda., which currently manages three Hooters locations in São Paulo, to form joint venture company, Chanticleer & Wings Brasil Foods Participacoes Ltda. ("CWBF"), of which Chanticleer owns 60% of the operating entity.
The new franchise agreement signed with CWBF and Hooters of America, Inc. expands the number of potential Hooters restaurant locations from three states originally announced in March, Rio de Janeiro, Minas Gerais, and Espirito Santo, to five states, now to include GOIAS and Curitiba-Parana. Additionally, the number of restaurants to be developed increased from five to seven, with the first location scheduled to open in April 2014 in Rio de Janeiro.
The Rio de Janeiro store is expected to join the list of highest grossing units outside the United States. In the year of 2012, Hooters Vila Olímpia was the third unit that generated the most profit around the globe, not including the US restaurants, losing only to Tokyo and Singapore. "The sports events that will take place in 2014 (World Up) and 2016 (Olympic Games) will considerably drive the market, including the food and beverages sector. Furthermore, the store's profile has everything to do with the 'cariocas' lifestyle", said Marcel Gholmieh, partner of all Hooters units in Brazil.
Mike Pruitt, CEO and President of Chanticleer Holdings, stated, "The new franchise agreement displays confidence in our ability to expand the Hooters brand in Brazil. We look forward to opening the Rio de Janeiro location in time for the 2014 FIFA World Cup."
About Chanticleer Holdings, Inc.
Chanticleer Holdings (NASDAQ: HOTR) is focused on expanding the Hooters® casual dining restaurant brand in international emerging markets and American Roadside Burgers Inc ("ARB"), a Charlotte, N.C. based chain. 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 seven Hooters restaurants in its international franchise territories: Durban, Johannesburg, Cape Town and Emperor's Palace in South Africa; Campbelltown in Australia; Budapest in Hungary; and Nottingham in the United Kingdom. ARB, purchased by Chanticleer Holdings on October 1, 2013, has a total of 5 casual restaurants -- 1 location in Smithtown, N.Y., 2 locations in Charlotte, N.C., 1 location in Columbia, S.C., and the newest location is in Greenville, S.C. The Company also owns a majority interest in JF Restaurants, LLC and JF Franchising Systems, LLC, a fresh food-focused casual dining establishment with 5 restaurant locations.
For further information, please visit www.chanticleerholdings.com
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Chanticleer Holdings, Inc.
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