Chanticleer Holdings Announces $526,106 Cash Distribution From Investment in Hooters of America
CHARLOTTE, NC - (Marketwired - August 20, 2014) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), owner and operator of multiple restaurant brands internationally and domestically, announced today that the Company has received a $526,106 cash distribution from its investment in Hooters® of America ("HOA").
Over the last three years, as a franchisee, Chanticleer Holdings has opened several Hooters locations worldwide: five in South Africa, one in Eastern Europe, and two in Australia; and has acquired two additional locations in Australia, one in England, and two in the U.S., Oregon and Washington, for a total of thirteen Hooters restaurants to date. The Company is also expecting two new locations to open in the coming months with the goal of opening additional locations worldwide in these markets over the next several years.
Chairman and CEO of Chanticleer Holdings, Mike Pruitt, commented, "Since HOA's new leadership in 2011, CEO Terry Marks, HOA's management team, corporate staff and franchise community have successfully grown the Hooters brand worldwide to over 430 locations in 28 countries while significantly enhancing profitability. We are excited to be a part of that success as we continue to build our portfolio of Hooters locations in these growing international and domestic markets."
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including Australia, England, South Africa, Hungary, and Brazil, and recently acquired two Hooters restaurants in the United States. The Company also owns and operates American Roadside Burgers, Spoon Bar & Kitchen and owns a majority interest in Just Fresh restaurants in the U.S.
For further information, please visit www.chanticleerholdings.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.