A look at the news over the last few months for Chanticleer Holdings shows just how rapidly the company is expanding. Chanticleer is a minority holder in the parent company of Hooters, Hooters of America, and a franchisee of international Hooters restaurants. Chanticleer also is acquiring domestic restaurant chains that fit their business model. In October the company closed the acquisition of American Roadside Burgers, a ten-year-old chain of five casual dining restaurants in North Carolina. Right after this acquisition Chanticleer closed on $1.6 million in equity financing to fund further expansion. Later in the month the company executed an agreement to acquire 100% of the company that owns the Hooters in Nottingham, England, and is Chanticleer's second European and seventh international Hooters location.
November was another active month for Chanticleer. On November 5th the company announced they had acquired 51% of Just Fresh Restaurants and plans to expand this fast-growing chain into new markets throughout the U.S. and internationally. In mid-November they reported asset and revenue growth, and improved gross margins and restaurant EBITDA. The company followed that good news with the announcement they had made an investment in Beaker's Madhouse, a high-end, cabaret style theatre and nightclub. Beaker's Madhouse is scheduled to open on New Year's Eve at the MGM Grand in Las Vegas. Shortly after, Chanticleer announced the expansion of its Hooters franchise agreement in Brazil with the number of restaurants to be developed increasing from five to seven. Brazil is a fast-growing market and will host the 2014 World Cup and 2016 Olympic Games.
Chanticleer then signed a binding Letter of Intent to acquire the Spoon Bar & Kitchen in Dallas, Texas, and their intentions are to expand the Spoon brand into a new, fast-casual dining concept. In mid-December the company announced the opening of its 5th South African Hooters restaurant location and its 8th international location.
Given their record over just the last few months, investors should expect this rapid expansion to continue into the coming year.
For more information, visit chanticleerholdings.com
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