Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Chanticleer Holdings, Inc. (HOTR) Announces Plans To Purchase First U.S. Hooters Restaurants

|Includes: Chanticleer Holdings (BURG)

Chanticleer Holdings is a public company that was formed in 2005 as a business development company and converted to an operating holding company in 2008. It owns and operates various restaurant brands in the United States and abroad, but though it has acquired and operates Hooters-branded restaurants in emerging international markets, it has yet to own one in the U.S. until now.

Last week, the company agreed to buy two existing Hooters locations in the Pacific Northwest. By the end of January, it will have acquired all the shares of Tacoma Wings LLC and Hooters of Oregon Partners LLC, the owners of two Hooters restaurants in Tacoma, Washington and Portland, Oregon. At that time, all leasehold and current franchise rights to those locations will be transferred to Chanticleer.

Hooters is one of the most well-known restaurant brands in the world and has a menu which consists of moderately-priced American bar food and the world-famous Hooters girls. The company currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary, U.K., and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional opportunities internationally and domestically.

Chanticleer also owns and operates American Roadside Burgers, a Charlotte, North Carolina based chain with five locations, and owns a majority interest in Just Fresh Restaurants, a fresh food-focused casual dining establishment with five locations and also based in Charlotte. The company continues to evaluate opportunities to grow both organically and through franchising opportunities for its brands.

For more information about Chanticleer Holdings and its subsidiaries, visit the website at chanticleerholdings.com

MissionIR provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.missionir.com