SOURCE: Chanticleer Holdings, Inc.

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February 03, 2014 09:54 ET

Chanticleer Holdings Completes Acquisition of Hooters Pacific Northwest Franchise

Company Also Completes Acquisition of Spoon Bar & Kitchen

CHARLOTTE, NC--(Marketwired - February 03, 2014) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings or the "Company"), a minority holder in the privately held parent company of the Hooters® brand Hooters Of America, and a franchisee of international Hooters restaurants, has announced that it has completed the acquisition of Hooters' U.S. Pacific Northwest franchise rights and two existing restaurants in Oregon and Washington.

Chanticleer has acquired 100% of the shares of Tacoma Wings, LLC and Hooters of Oregon Partners, LLC, owners and operators of the two locations in Portland, OR and Tacoma, WA. All leasehold and current franchise rights to the Hooters locations in Oregon and Washington have been transferred to the Company and Management is evaluating locations around the Portland and Seattle areas for future restaurant openings. 

In addition, Chanticleer also completed its acquisition of Chef John Tesar's fine dining seafood restaurant, Spoon Bar & Kitchen, located in Dallas, TX, acquiring 100% of the shares of Dallas Spoon, LLC and Dallas Spoon Beverage, LLC. The Company intends to expand the Spoon brand taking its healthier seafood menu into a new, fast-casual dining concept.

Mike Pruitt, Chairman and Chief Executive Officer, commented, "We are starting off the new year successfully completing both of these acquisitions and more importantly adding three operating restaurants to our portfolio. The Pacific Northwest provides strategic opportunities to expand the footprint of our brands." 

For more information on the transactions, please refer to Chanticleer Holdings' filings at www.sec.gov.

About Chanticleer Holdings, Inc
Headquartered in a Charlotte, NC, Chanticleer Holdings (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including England, South Africa, Hungary, and Brazil and has joint ventured with the current Hooters franchisee in Australia and domestically in Oregon and Washington. Chanticleer is evaluating several additional international opportunities. The Company also owns and operates American Roadside Burgers and owns a majority interest in Just Fresh restaurants in the U.S.

For further information, please visit www.chanticleerholdings.com 
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