Chanticleer Holdings Secures Location for New Hooters Restaurant in Townsville,
Lease Also Signed for New Location in Surfers Paradise, Australia
CHARLOTTE, NC -- (Marketwired) -- 04/08/13 -- Chanticleer Holdings,
Inc. (NASDAQ: HOTR) ("Chanticleer Holdings" or the "Company"), a
minority owner in the privately held parent company of the HootersÂ®
brand, Hooters of America, and a franchisee of international Hooters
restaurants, has secured Townsville on the northeastern coast of
Queensland as the location for a new Australian restaurant, marking
its second location in that country and its seventh international
location. Additionally, the Company's joint venture partner has
signed a lease for a site in Surfers Paradise, also in Queensland,
Australia, near to a site it had originally planned for that area.
Construction on the Townsville site is expected to begin within the
next several weeks. The new 5,140-square-foot restaurant is expected
to open by the second quarter of 2013. Townsville sports a thriving
economy, estimated to be growing at 16.5 percent per year, with
strong population growth, increases in retail spending, and billions
of dollars in mining, construction and infrastructure projects
forecasted over the next several years. The area is also home to a
thriving military base with 1,500 personnel, and three Royal
Chanticleer expects to use the equipment it had purchased for the
original Surfers Paradise site, and therefore does not believe it
will incur any additional equipment costs to open the Townsville
restaurant. Chanticleer selected the new Surfers Paradise site after
the owner of the original target location was unable to fulfill its
obligations to Chanticleer, thereby hampering the Company's efforts
to open in a timely manner. Construction in Surfers Paradise, which
will be Chanticleer's eighth international location, is expected to
commence after the completion of the new Townsville location. Hooters
of America has approved both the Townsville and Surfers Paradise
Mike Pruitt, CEO and President, commented, "Australia has been a
fantastic area for Hooters, and we are looking forward to expanding
our presence in the country. In addition to our new menu, terrific
ambiance and iconic H
ooters girls, our large-screen TVs are expected
to make our new restaurant a destination stop for both locals and
tourists. We believe the Townsville area's strong economy and growing
population, coupled with its proximity to the military base, is a
perfect location for Hooters.
"We are also excited to recommence our plans to open in Surfers
Paradise. The brand fits well with the beach culture of Surfers
Paradise and the local and visitor demographic should make Hooters of
Surfers Paradise a restaurant and sports bar all will enjoy."
In 2011, Chanticleer Holdings formed a joint venture with the
existing Hooters Franchisee in Australia, Morney Schlebusch, who
assisted in securing these two locations. Chanticleer Holdings owns
49 percent of the joint venture's Campbelltown and upcoming
Townsville and Surfers Paradise locations. Mr. Schlebusch, who
handles the day-to-day restaurant operations, owns the remaining 51
percent of these three locations. With the opening of the two new
locations, there will be a total of five Hooters restaurants in
Australia, where the Company believes the market opportunity is for
approximately 15 total restaurants.
About Chanticleer Holdings, Inc.
Chanticleer Holdings (HOTR) is focused on expanding the HootersÂ®
casual dining restaurant brand in international emerging markets.
Chanticleer currently owns in whole or part of the exclusive
franchise rights to develop and operate Hooters restaurants in South
Africa, Hungary and parts of Brazil, and has joint ventured with the
current Hooters franchisee in Australia, while evaluating several
additional international opportunities. The Company currently owns
and operates in whole or part of six Hooters restaurants in its
international franchise territories: Durban, Johannesburg, Cape Town
and Emperor's Palace in South Africa; Campbelltown in Australia; and
Budapest in Hungary.
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, a privately held
company. Today, Hooters of America is an operator and the franchisor
of over 430 HootersÂ® restaurants in 28 countries. Chanticleer
maintains a minority ownership stake in Hooters of America and its
CEO, Mike Pruitt, is also a member of Hooters' Board of Directors.
For further information, please visit www.chanticleerholdings.com
For further information on Hooters of America, visit www.Hooters.com
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Chanticleer Holdings, Inc.
Phone: 704.366.5122 x 1
Dian Griesel Inc.
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