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Chanticleer Holdings, Inc. (HOTR) Anticipates Opening 5th Hooters Restaurant In South Africa As Part Of Broader Expansion Plans

|Includes: Chanticleer Holdings (BURG)

Chanticleer Holdings is the owner and operator of Hooters restaurants on an international scale. The company's growth strategy is to expand the Hooters brand in emerging markets via partnership and/or acquisition of Hooters restaurants.

The company currently has restaurants planted in South Africa, Australia, and Hungary, selecting territories with strong local market dynamics based on economic growth and demographics.

In December 2009, HOTR opened its first South Africa Restaurant in Durban, and by February 2012 had opened its fourth restaurant in Emperor's Palace Casino in South Africa, which is operated by a management company formed to manage all South Africa units. The fifth restaurant in South Africa is slated to open this year in Pretoria.

In the fourth quarter of 2012, HOT implemented price increases, an updated menu, and improved the appeal of certain restaurants in South Africa. The units generated revenue of $6.2 million, representing a significant majority of HOTR's full-year 2012 total revenues of $6.9 million.

HOTR overarching goal is to have 10 Hooters restaurants operating in 2013, though it believes that based on current exclusive international territories it could grow to have more than 75 Hooters locations.

Specific to South Africa, the company sees full market opportunity in the area at 20 restaurants and has eyes on new potential locations in Cape Town Waterfront, Secunda, and Bloemfontein.

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