CHARLOTTE, N.C., June 25, 2012 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (Nasdaq:HOTR) (Nasdaq:HOTRU) ("Chanticleer Holdings" or the "Company"), an international franchisee of Hooters restaurants, announced the Company has secured the location for Hooters Budapest, in the middle of Franz Liszt Square, where construction is underway on our 7800 square foot unit across three levels.
Alex Hemingway, Director of Chanticleer Europe and CEO of Crown Restaurants – Chanticleer Holdings' European operating entity, stated, "We are extremely excited about the opportunity to begin our European development strategy with Budapest, Hungary. Our new restaurant in the heart of Budapest's Franz Liszt Square couldn't be more centrally located or better known. We look forward to serving Hungarians our great food and having them experience the Hooters environment."
Hooters Budapest will be the first Hooters restaurant open in Hungary, with restaurant doors expected to open by the end of this year.
About Chanticleer Holdings, Inc.
Chanticleer Holdings (Nasdaq:HOTR) (Nasdaq:HOTRU) is a business operator focused on expanding the Hooters casual dining restaurant brand in international markets. Chanticleer currently has rights to develop and operate Hooters restaurants in South Africa and has joint ventured with the current franchisee in Australia. The Company also has franchise rights to develop Hungary and parts of Brazil, while evaluating several additional opportunities internationally.
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), a privately held company. Today, HOA is the franchisor and operator of over 450 Hooters restaurants in 44 states and 28 foreign 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.
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