Chanticleer Holdings Announces Plans for Third Hooters Restaurant in South Africa
Newest Hooters Restaurant to Open in Cape Town, the Most Dynamic City in One of the World's Fastest Emerging Global Economies
CHARLOTTE, N.C., Jan. 10, 2011 /PRNewswire/ -- Chanticleer Holdings, Inc. (OTC Bulletin Board: CCLR ), announced today plans to open its third Hooters restaurant in Cape Town, South Africa, Hooters™ on Edward Street, in March, 2011. Chanticleer's other South African Hooters restaurants include "Hooters™ on the Rocks" and "Hooters™ on the Buzz", located inDurban and Johannesburg, respectively.
The trio of restaurants is part of Chanticleer Holdings' joint venture with SGShaw Food, PTY of Durban, S.A. Together the firms plan to open at least four additional Hooters restaurants in South Africa over the next five years but thinks there is a much greater opportunity in this region.
Hooters™ on Edward Street occupies nearly 6,000 square feet in the Manhattan Plaza on Edward Street, which is filled with popular bars, nightclubs and restaurants which will create substantial traffic for the Hooters restaurant. The new space can accommodate 280 people, including a large outdoor patio.
Michael Pruitt, Chief Executive Officer of Chanticleer Holdings, Inc., stated, "Opening our third Hooters restaurant in South Africaaffirms our successful track record of extending the Hooters brand in Africa. We see tremendous opportunity in this region and the optimism, energy and entrepreneurial spirit evident in Cape Town makes it a critical location for attracting locals and tourists to the renowned Hooters brand."
Pruitt continued, "Our partnership with SGShaw Food has proven invaluable. Their expertise in food services, paired with their proven ability to identify, secure and develop our Durban and Johannesburg locations, gives us high expectations for the newCape Town location."
"There is a tremendous amount of excitement surrounding the opening of Hooters on Edward Street and we are eager to exceed the expectations of Cape Towns' multi-cultural local and tourist communities," commented Spencer Shaw, Chairman of SGShaw Food, PTY. "On the heels of winning the Restaurant Association of South Africa award for service excellence, we are committed to bringing they same high standard of service to all Hooters locations throughout South Africa."
Chanticleer Holdings, Inc. formed HOOT SA 111, LLC, for the purpose of contributing 50% of the start-up capital for the South Africa Hooters project in Cape Town. Chanticleer led this investment and raised the remainder from outside private investors. Chanticleer Advisors is the manager of HOOT SA 111, and will participate in the profits of all three Hooters South African operations.
About Chanticleer Holdings, Inc.
Chanticleer Holdings, Inc. is a publicly traded holding company that is headquartered in Charlotte, NC. It operates two wholly-owned operating subsidiaries: Chanticleer Advisors, an investment manager; and Avenel Ventures, a consulting firm. Additionally, the company owns several minority investments in private companies, including an interest in a convertible note into Hooters of America, Inc. Chanticleer Holdings, Inc. was formed in 2005 as a business development company. In 2008 our shareholders elected to convert to an operating holding company. For further information, please visit www.chanticleerholdings.com
Released January 10, 2011