When Chanticleer Holdings, a franchisee of international Hooters restaurants and a minority owner in the privately held parent company of the iconic Hooters brand, announced recently that it had agreed to acquire an existing Hooters restaurant in Nottingham, England, it reflected their earlier stated intention to expand operations in Europe. The company already has restaurants in South Africa, Australia, and Hungary, with Hungary seen as a becoming a base for future expansions in Europe. Chanticleer earlier partnered with Alex Hemingway and his team to form Hungary-based Crown Restaurants, with initial locations in Budapest.
The acquisition of the Nottingham restaurant is expected to close no later than the end of October, contingent upon the completion of a full audit. The location is attractive to the Hooters brand, being in central England roughly a hundred miles north of London, an area that supports successful sporting teams and tourist attractions. It’s a large restaurant, seating well over 300 people both indoors and in its patio area. The site has been in operation for 13 years.
Chanticleer’s ambitious overseas expansion plans are not the company’s only international exposure. Chanticleer is part owner of Hooters of America (HOA), a privately held company that is already the operator and franchisor of over 400 restaurants in 28 countries.
Chanticleer has also signed a Letter of Intent to acquire the American Roadside Burgers chain, with casual dining restaurants on the East Coast. The acquisition of an American chain is something of a departure from the company’s general focus on international expansion, but presents a unique strategic opportunity in a high-growth space
For additional information on Chanticleer Holdings, visit www.ChanticleerHoldings.com
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website
http://www.missionir.com/disclaimer.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment