Chanticleer Holdings Closes Acquisition of American Roadside Burgers
Acquisition Adds Five New Locations to HOTR's Growing Restaurant
CHARLOTTE, NC -- (Marketwired) -- 10/01/13 -- Chanticleer Holdings,
Inc. (NASDAQ: HOTR) ("Chanticleer Holdings" or the "Company"),
headquartered in Charlotte, N.C., announced today that the Company
has purchased all of the outstanding shares of American Roadside
Burgers, Inc ("ARB"). ARB is a Charlotte, N.C. based chain of 5
casual restaurants known for serving high-quality Premium beef
burgers, providing value to its customers. Subject to Board and
regulatory agency approvals, Tom Lewison, a current Director of
American Roadside Burgers and the former Chief Operating Officer of
Bojangles, will join the Chanticleer Holdings Board of Directors and
provide strategic direction for the companies.
Mike Pruitt, Chairman and Chief Executive Officer of the Company,
stated: "This acquisition of an exciting chain of restaurants is our
first departure from our ongoing development of Hooters restaurants
in foreign countries. We believe that acquiring American Roadside at
this stage of their development presents Chanticleer a strategic
opportunity to participate in a high-growth space with an already
established brand. We plan to continue to expand the American
Roadside chain as future opportunities occur as well as continue on
our development of Hooters restaurants internationally. Additionally,
the opportunity to work with one of the better restaurant executives
in the country, Tom Lewison, is an extremely important step in our
ARB, a 10-year-old chain is known for its diverse menu featuring
fresh salads; customized burgers made from fresh beef, turkey or
veggies; milk shakes; and a large selection of various sandwiches,
beers and wine. In-restaurant dining is fast and convenient and the
existing restaurant locations are strategically located in high
traffic areas. Each restaurant features a nostalgic "made in America"
The first American Roadside Burgers location opened in 2006 in
Smithtown, N.Y. Since then it has expanded to 2 locations in
Charlotte, N.C., 1 location in Columbia, S.C. and the newest location
is in Greenville, S.C. It was founded in 2003 by John Tunney, III, a
nationally renowned creator of award winning restaurants throughout
the United States.
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
About American Roadside Burgers, Inc.
For further information on American Roadside Burgers, Inc., visit
For further information on Hooters of America, visit www.Hooters.com
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Chanticleer Holdings, Inc.
Phone: 704.366.5122 x 1
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