Chanticleer Holdings Taps International Franchise Operator Alex Hemingway to Lead European Growth Strategy
CHARLOTTE, NC -- (MARKET WIRE) -- 01/31/12 -- Chanticleer Holdings, Inc. (OTCBB: CCLR) ("Chanticleer" or the "Company"), a business operator focused on expanding the Hooters casual dining restaurant brand in international markets, today announced the appointment of international restaurant executive Alex Hemingway as director of Chanticleer Europe to explore European development of the Hooters restaurant franchise in Eastern and Western Europe. Chanticleer will own 80% of the business based in Budapest, Hungary, with a group led by Mr. Hemingway owning the remaining 20%.
Mr. Hemingway brings more than 14 years' executive management experience in restaurant and real-estate development as a master franchisee, leading operations for multiple brands such as Pizza Hut, KFC, Dunkin Donuts, Baskin Robbins and Mr. Sandwich. Previously, he was CEO and president of Central European Franchise Group (CEFG), the owner and operator of Pizza Hut and KFC franchise restaurants in Hungary. His leadership led to multiple-year double-digit same-store-sales growth for both brands, as well as the highest customer feedback scores in the region. He also served as the director of Orient Rt., Central Europe's largest independent restaurant company with over 130 operating units based in Budapest, Hungary. Prior to this, Mr. Hemingway served as the operational director of Orient Vendeglato Rt. As part of his work he also developed and executed comprehensive business entry strategies for both retail and restaurant concepts into the emerging markets of Central Europe and Greater China, respectively. Mr. Hemingway holds a BA from Pepperdine University's Seaver College.
"We are very excited to add such an experienced international restaurant franchise leader to our development team. Alex has a great track record of building multi-national brands and brings tremendous knowledge and insight for exploring Chanticleer's desire to expand the Hooters franchise in European and emerging international markets," stated Michael Pruitt, chief executive officer of Chanticleer Holdings. "As we focus our growth strategy on key emerging International markets, Alex will play a major role in accelerating our plan in 2012. His standout success in positioning companies for growth and profitability will play a vital role in our expansion."
About Chanticleer Holdings, Inc.
Chanticleer Holdings was formed in 2005 as a business development company and converted to an operating holding company in 2008.
In 2011, Chanticleer and a group of noteworthy private equity investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly Hall, president of Texas Wings Inc., the largest Hooters franchisee in the United States, acquired Hooters of America (HOA). Today, HOA is the franchisor and operator of over 450 Hooters restaurants in 44 states and 28 foreign countries. Chanticleer currently has rights to develop and operate restaurants in South Africa and is joint venturing with the current franchisee in Australia, while evaluating several additional opportunities. In addition to Chanticleer maintaining its ownership stake in HOA, its CEO, Mike Pruitt, is also a member of HOA's Board of Directors. For further information, please visit www.chanticleerholdings.com or www.hooters.com.
Safe Harbor Statement
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statement of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events.
Contacts: Company Contact: Michael Pruitt, CEO 704-366-5122 Ext: 1 Email Contact Investor & Media Relations: MZ Group - North America Mark McPartland, SVP Phone: (212) 301-7130 Email: Email Contact Web: www.mz-ir.com
Source: Chanticleer Holdings, Inc.
Released January 31, 2012