- Second Location in South Africa is Among the Largest Hooters Restaurants in the World -
- Both Locations Expected to Have Extraordinary Sales During the Upcoming 2010 World Cup -
CHARLOTTE, N.C., June 7, 2010 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (OTCBB:CCLR) announced the grand opening of its new "Hooters™ on the Buzz" restaurant in Johannesburg, South Africa took place with a waiting list only attendance on Friday, June 4, 2010. The opening is the second Hooters Restaurant Chanticleer has opened thus far in South Africa, both of which should be benefit immensely from the upcoming 2010 World Cup Soccer games and events being held throughout South Africa. In fact, many tournament games and events will be held in close proximity of both Hooters locations.
Chanticleer's first location, "Hooters™ on the Rocks" in Durban, South Africa, opened in December 2009, and has been an enormous success, having been profitable from its first month in operation. Chanticleer plans to open seven Hooters in South Africa, including its third location by the end of 2010.
The newly opened Hooters location in Johannesburg is among the largest Hooters Restaurants in the world, having a footprint of 13,000 square feet, and a seating capacity of 370. The restaurant features over 40 plasma TVs and two full liquor bars. Located at Buzz Centre at Fourways, the restaurant is in one of Johannesburg's premier retail locations on the third busiest road in the city. The Buzz Centre is heavily populated with well known retail and food establishments which create substantial patron traffic.
Both the Johannesburg and Durban Hooters restaurants are part of Chanticleer Holdings' 50/50 joint venture with Shaw Foods PTY based in Durban, South Africa. Chanticleer formed and manages two separate LLCs which contributed 50% of the start-up capital for both the Johannesburg and Durban Hooters restaurants. Chanticleer will participate in the profits of all Hooters South African restaurant locations opened by way of the joint venture agreement with Shaw Foods PTY.
Commenting on the announcement, Michael Pruitt, CEO of Chanticleer, stated, "Given the enormous and immediate success of our first South African location in Durban, we have very high expectations for our new Hooters in Johannesburg. As we expected, both the local South African population and tourists alike have shown great interest in the internationally renowned Hooters brand and dining experience. We look forward to opening at least seven Hooters locations throughout South Africa."
Spencer Shaw, Chairman of Durban based Shaw Foods PTY, stated, "The new Johannesburg 'Hooters on the Buzz' is nothing short of a totally unique experience for our customers. Given its exceptionally large size, the flowing indoor and outdoor seating layout, two full bars, a great menu, 40 plasma TVs, and of course, the world famous Hooters Girls, the energy and excitement level inside the restaurant is simply amazing. Moreover, we are thrilled to have opened the Johannesburg Hooters location in time for the start of the 2010 World Cup, which we expect will be a boon for the restaurant."
For more information, please visit http://www.hooterssouthafrica.com and http://www.hooters.com.
About Chanticleer Holdings, Inc.
Chanticleer Holdings, Inc. (OTCBB:CCLR) is a publicly traded operating holding company 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., the Atlanta-based operator and franchiser of over 450 Hooters locations around the world. For further information, please visit www.chanticleerholdings.com/" target="_top" rel="nofollow">www.chanticleerholdings.com.
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.