CHARLOTTE, N.C., Feb. 16, 2010 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (OTCBB:CCLR), announced today that the company's second Hooters restaurant in South Africa is planned to open in April in Johannesburg. Hooters' first restaurant in South Africa opened in Durban in December with great success.
Both the Durban and Johannesburg restaurants are part of Chanticleer Holdings' joint venture with Shaw Foods PTY of Durban, S.A. A third location is planned in Pretoria, and will be opened in the second quarter of this year, in time for the 2010 FIFA World Cup events.
The new Johannesburg location is in the Buzz Centre at Fourways, the third busiest road in Johannesburg. The Buzz Centre is heavily populated with well known retail and food service stores which will create substantial traffic for the Hooters restaurant.
The Buzz Centre is considered one of the premier retail locations in South Africa's largest city.
Michael Pruitt, Chief Executive Officer of Chanticleer Holdings, Inc., stated, "Opening this second Hooters location in this incredibly vibrant South African city, keeps us right on track with our expansion plans within the country. We could not have a better location in the city and we are excited to get it open in April, in time for the World Cup."
Pruitt continued, "Our Durban based partners in South Africa, Shaw Food, PTY, have great expertise in the food service business, and they have done another excellent job in securing this location and preparing it for our opening. The initial success of our Durban Hooters gives us great cause for similar expectations in this Johannesburg location."
Spencer Shaw, Chairman of Durban based Shaw Food, PTY, said, "It took three years to get the Hooters project up and running and we were hugely pleased with the initial performance of our first Hooters here in Durban, and fully expect the new Johannesburg location to be even better." Shaw stated further, "South Africa is a culturally diverse nation and the Hooters concept is being embraced by South Africans and our huge tourist population as well. The World Cup will also be a boon to our business in all three of our locations."
Chanticleer Holdings, Inc. formed HOOT SA 11, LLC, for the purpose of contributing 50% of the start-up capital for the South Africa Hooters project in Johannesburg. Chanticleer led this investment and raised the remainder from outside private investors. Chanticleer Advisors is the manager of HOOT SA 11, 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.
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