Chanticleer Holdings Sets Grand Opening Date of Hooters(R) Restaurant in Budapest, Hungary for August 27, 2012
August 09 2012 - 7:30AM
Chanticleer Holdings, Inc. (Nasdaq:HOTR)
("Chanticleer" or the "Company"), a minority owner in the
privately-held parent company of the Hooters® brand, Hooters of
America ("HOA"), and a franchisee of international Hooters®
restaurants, announced today its first Hooters® restaurant in
Budapest, Hungary will celebrate its grand opening to the public on
August 27, 2012 with a "VIP" opening event set for August 25th.
Hooters® Budapest is located in the middle of Franz Liszt
Square, home of the famous Budapest Franz Liszt Academy of Music,
one of Europe's oldest and prestigious music academies. The
Square is a popular outdoor pedestrian destination, especially
during the summer months.
The restaurant is situated on a boardwalk nestled between
Andrassy Fashion Street and the Kiraly walking street, and is
approximately 150 feet away from the Octogon, Budapest's largest
thoroughfare - where 3 subway lines, 2 tram lines and 4 bus lines
meet. Andrassy Street is known for its high fashion brands
from Armani to Davidoff, while Kiraly Street is known for its clubs
and bars which cater largely to Budapest's under 30 crowd.
Alex Hemingway, CEO of Chanticleer Holdings' European
operations, commented, "We are extremely excited to begin our
European development strategy of Hooters® restaurants with the
opening of this location in Budapest, Hungary. This leasehold
of 7,684 square feet has three levels, two bars, 52
state-of-the-art televisions, and capacity for more than 400
customers, including 150 outside seats. The closest local
competitor has less than 10 televisions. We are confident the
unique Hooters® experience will be a success in Budapest."
Terry Marks, CEO of Hooters of America, LLC, stated, "The
expansion of Hooters into Hungary is a testament to the global
attraction of the brand, As a commercial, cultural and
transportation hub for the country, Budapest provides the perfect
destination for Hooters' great food and iconic hospitality. We
are thrilled to open in the beautiful capitol city, marking the
28th international country for Hooters."
In April 2012, Chanticleer acquired the exclusive franchise
rights to develop and operate Hooters® restaurants in
Hungary. Alex Hemingway, Director of Chanticleer Europe, will
oversee day-to-day operations and the development of the Hooters®
franchise in Hungary. Mr. Hemingway has over 14 years of
international restaurant management and real-estate development
experience, including six years in Hungary as the Chief Executive
and President of a franchise group for Pizza Hut and Kentucky Fried
Chicken. Under the franchise agreement, Chanticleer will own
80% of Chanticleer's businesses in Hungary, with a management group
led by Mr. Hemingway owning the remaining 20%.
Mike Pruitt, CEO and President of Chanticleer Holdings,
commented, "We are thrilled to celebrate another achievement in our
strategic plan to open Hooters® restaurants in international
emerging markets. The Budapest Hooters® location marks our
first step of expanding our international footprint into the
European market. We believe Liszt Ferenc Square is an ideal
location in Budapest to offer the world renowned Hooters®
experience of an American sports bar with great food and a festive
atmosphere."
About Chanticleer Holdings, Inc.
Chanticleer Holdings is focused on expanding the Hooters® casual
dining restaurant brand in international emerging markets.
Chanticleer currently owns all or part of the exclusive franchise
rights to develop and operate Hooters® restaurants in South Africa,
Hungary and parts of Brazil, and has a joint venture with the
current Hooters® franchisee in Australia, while evaluating several
additional international opportunities. The Company currently
owns and operates in whole or part five Hooters® restaurants in its
international franchise territories: Durban, Johannesburg, Cape
Town and Emperor's Palace in South Africa; and Campbelltown,
Australia.
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"), the privately-held parent company of the Hooters® brand.
Today, HOA is the franchisor and operator of over 430 Hooters®
restaurants in 27 countries. Chanticleer maintains a minority
ownership stake in HOA and 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 and follow us on
Twitter at @ChantHoldings or @Hooters.
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. Many factors could cause our actual activities or
results to differ materially from the activities and results
anticipated in forward-looking statements. These factors include
those described in the companies' filings 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.
CONTACT: Shannon DiGennaro, V.P. Investor Relations
Phone: 704.941.0959
sd@chanticleerholdings.com
Investor Contact:
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
858-794-9500
bprag@delmarconsulting.com
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