Seeking Alpha

MissionIR's  Instablog

MissionIR
Send Message
We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices. It is our unwavering commitment to connect the investment community with companies that have great potential and a strong dedication to... More
My company:
MissionIR
My blog:
MissionIR Blog
  • Chanticleer Holdings, Inc. (HOTR) Sees Brazil As Its Next Big Conquest 0 comments
    May 17, 2013 1:56 PM | about stocks: HOTR

    Chanticleer Holdings, a joint owner of privately held Hooters of America (HOA) and an independent developer of international Hooters restaurants, is the focus of a recent Wall Street Journal article by Georgia Wells (http://dtg.fm/Fr8t) that covers the company's move into Brazil. Chanticleer has already opened Hooters restaurants in Hungary, South Africa, and Australia, but sees Brazil as the single biggest opportunity for both Hooters and Chanticleer. In the article, Chanticleer CEO, Michael Pruitt, is mentioned as hoping to launch as many as 40 Hooters locations, making the country the largest Hooters footprint outside the U.S.

    Brazil holds special interest now, with the upcoming 2014 World Cup and 2016 Summer Olympics, but, as the article points out, the opportunity goes beyond that, since there is a real need for middle-tier restaurants that is not being met. The article quotes Andres Calderon, VP of Research at Hansberger Global Investors, as emphasizing the opportunity for mid-priced U.S. restaurants between the lower-end street vendors or fast food chains and the more formal local restaurants: ". . . you really have a dearth of options in the middle." He points to Outback Steakhouse, now with over 21 locations in Brazil, as an example of one of the few American restaurants to go after the Brazilian customers. "It's been a wild success. Literally people will wait an hour in line to eat at Outback," Mr. Calderon said.

    Chanticleer hopes to be the next big success in Brazil, building on success it has had in South Africa, Australia, and Hungary. In addition, the company is also a part owner of Hooters of America (HOA), a privately held company that now controls over 430 Hooters restaurants around the world. Chanticleer President and CEO Michael Pruitt sits on the HOA Board of Directors.

    For additional information on Chanticleer Holdings, visit www.ChanticleerHoldings.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: HOTR
Back To MissionIR's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.