SOURCE: Chanticleer Holdings, Inc.

November 07, 2013 09:55 ET

Chanticleer Holdings Completes the Acquisition of Nottingham, England Hooters Location

CHARLOTTE, NC--(Marketwired - Nov 7, 2013) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) ("Chanticleer Holdings" or "the Company"), a franchisee of international Hooters® restaurants and a minority owner in the privately held parent company of the Hooters® brand, Hooters of America, announced the Company acquired the Nottingham England Hooters Location, effective today.

As part of this transaction, all leasehold and franchise rights to the location have been transferred to Chanticleer Holdings. Nottingham is Chanticleer's second European and seventh international Hooters® location. The closing of the acquisition was pursuant to the Stock Purchase Agreement executed on October 24, 2013 for the purchase of 100% of the shares of West End Wings Limited ("WEW"), a company wholly owned by Manchester Wings Limited.

Mike Pruitt, CEO and President of Chanticleer Holdings, stated: "The Nottingham location is the fifteenth largest Hooters restaurant in terms of sales and Hooters' fourth largest international store. This profitable location is an excellent addition to our restaurant portfolio. We look forward to continuing to work with the tremendous Nottingham management team to grow the location's excellence in service and performance, as well as continue expansion in the United Kingdom."

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About Chanticleer Holdings, Inc.

Chanticleer Holdings (HOTR) is focused on expanding the Hooters® casual dining restaurant brand in international emerging markets and American Roadside Burgers Inc ("ARB"), a Charlotte, N.C. based chain. Chanticleer currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional international opportunities. The Company currently owns and operates in whole or part of six Hooters restaurants in its international franchise territories: Durban, Johannesburg, Cape Town and Emperor's Palace in South Africa; Campbelltown in Australia; and Budapest in Hungary. ARB, purchased by Chanticleer Holdings on October 1, 2013, has a total of 5 casual restaurants -- 1 location in Smithtown, N.Y., 2 locations in Charlotte, N.C., 1 location in Columbia, S.C., and the newest location is in Greenville, S.C.

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