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  • Chanticleer Holdings, Inc. (HOTR) Issues Update As Preparations Are Made For Seventh Hooters Restaurant 0 comments
    Sep 5, 2013 3:49 PM | about stocks: HOTR

    Chanticleer Holdings owns and operates franchised international Hooters restaurants in emerging international markets with the intention of expanding the Hooters® casual dining restaurant brand. Hooters® is one of the most well known, unique restaurant brands in the world offering a menu of moderately-priced American bar food and the world-famous Hooters girls.

    Chanticleer Holdings had previously announced and signed a Binding Letter of Intent to acquire an existing location in Nottingham, England. It is anticipated that the agreement will close by October 31, 2013. This will be the seventh Hooters restaurant in operation under Chanticleer. The company is planning further expansion into the UK market as it predicts great opportunity for the company and the Hooters brand.

    Chanticleer is examining various partnership opportunities with existing franchisees, as well. The company expects to expedite its growth as the Hooters® brand chain remodels and refurbishes its 460+ restaurants, as the parent company continues to establish additional domestic and international stores.

    Chanticleer had previously announced that it had signed a Non-Binding Letter of Intent to acquire American Roadside Burgers, Inc. (NYSE:ARB), a fast casual burger chain with 5 existing restaurants. The company expects this agreement to close not later than September 30, 2013. Chanticleer management expects that ARB will bring additional revenue, diversification, and opportunity into the fast casual burger business model. The company intends to expand this chain on a domestic level with possible plans to expand internationally.

    Mike Pruitt, who is the 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 Letters of Intent 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."

    Chanticleer currently has rights to develop and operate Hooters restaurants in South Africa and has joint ventured with the current franchisee in Australia. The company also has franchise rights to develop Hungary and parts of Brazil and continues to evaluate additional international opportunities. Chanticleer is headquarted in Charlotte, North Carolina.

    For more information, please visit chanticleerholdings.com

    Please see disclaimer on the MissionIR website


    Stocks: HOTR
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