Chanticleer Holdings Secures a Port Elizabeth Location for Sixth South Africa Hooters Restaurant
CHARLOTTE, NC – April 8, 2014 -- Chanticleer Holdings, Inc. (NASDAQ: HOTR) (“Chanticleer,” or the "Company"), owner and operator of multiple restaurant brands internationally and domestically, today announced that the Company has executed a purchase agreement for a commercial building intended for its sixth South Africa Hooters restaurant. Final closing is expected to occur in approximately eight to ten weeks upon the registration of transfer of the property. As Chanticleer’s first real estate purchase, the prime standalone site sits on the corner of one of the busiest intersections in the heart of Port Elizabeth, South Africa.
Known as the cosmopolitan center of Port Elizabeth, the Walmer area is full of trendy bars, restaurants and local businesses with upmarket residential areas surrounding the shopping district, creating an attractive mix of both business and residential guests for the new Hooters restaurant, which is expected to open in the third quarter of 2014. Renovations, which are scheduled to begin prior to registration of transfer of property, are intended to transform the property into a leading landmark for the Walmer area.
Darren Smith, CFO of Hooters South Africa, commented, “We are excited by the potential of this store and believe that it will be another successful location for Hooters South Africa. We look forward to establishing an iconic store in one of our country’s exceptional cities.”
Mike Pruitt, Chairman and Chief Executive Officer, commented, "Hooters has proven to be a recognized brand, valued by our patrons in South Africa, and the Port Elizabeth property was a unique opportunity for us to acquire real estate in a growing city where we believe the Hooters restaurant will flourish for many years to come.”
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including England, South Africa, Hungary, and Brazil, has joint ventured with the current Hooters franchisee in Australia, and recently acquired two Hooters restaurants in the United States. The Company also owns and operates American Roadside Burgers, Spoons Bar & Kitchen and owns a majority interest in Just Fresh restaurants in the United States.
For further information, please visit www.chanticleerholdings.com
Facebook: www.Facebook.com/ChanticleerHOTR
Twitter: http://Twitter.com/ChanticleerHOTR
Google+: https://plus.google.com/u/1/b/118048474114244335161/118048474114244335161/posts
Forward-Looking Statements:
Any statements that are not historical facts contained in this release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
Press Information:
Chanticleer Holdings, Inc.
Investor Relations
Phone: 704.366.5122
ir@chanticleerholdings.com