CHARLOTTE, N.C., Nov. 17, 2009 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (OTCBB:CCLR) today announced that the Company's first Hooters restaurant located in the city of Durban at 2 Lagoon Dr., Umhlanga will hold its grand VIP opening Saturday, December 12, 2009. The restaurant, which used to house the popular pub Cotton Fields, is part of Chanticleer's joint venture with Shaw Foods PTY and is the first of three Hooters locations expected to open in South Africa in the near future.
The Durban location is Africa's first Hooters restaurant. The new restaurant will feature approximately 30 plasma TV screens situated around the restaurant and a delicious local menu as well as Hooters' famous chicken wings. Chanticleer and Shaw Foods expect to open two additional Hooters restaurants in time for the 2010 FIFA World Cup.
Michael Pruitt, Chief Executive Officer of Chanticleer Holdings, Inc., commented, "We are thrilled to announce the grand opening of the Durban restaurant. Besides this location, we are planning on opening one in Johannesburg by the end of the first quarter and another Hooters in Cape Town during the second quarter. We are confident the restaurants will be a big hit with locals as well as tourists for 2010. We want to thank our partner Shaw Food PTY for their excellent job selecting a wonderful location and overseeing the transformation on the site."
Spencer Shaw, of Shaw Food PTY, Durban-based owner of the Hooters franchise, stated, "It took three years to get the project up and running and Shaw is excited that finally the Hooters brand is being launched in South Africa. The City of Durban is the largest city in the KwaZulu-Natal Province and has an intense gusto for life and a diverse range of cultures. Durban is the venue for one of the two semifinals of the FIFA World Cup and with its humid weather, it is bound to be a tourist hot spot during the tournament."
Previously, Chanticleer formed Hoot SA 1, LLC for the purpose of contributing its 50% of the start-up capital toward the South Africa project. Chanticleer led this investment and raised the remainder from outside investors. Chanticleer Advisors, LLC is the manager of Hoot SA 1 and will participate in the economic success of this location.
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.
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.