Chanticleer Holdings, Inc. (HOTR) Sees Brazil as Its Next Big Conquest

Chanticleer Holdings, a joint owner of privately held Hooters of America (HOA) and an independent developer of international Hooters restaurants, is the focus of a recent Wall Street Journal article by Georgia Wells (http://dtg.fm/Fr8t) that covers the company’s move into Brazil. Chanticleer has already opened Hooters restaurants in Hungary, South Africa, and Australia, but sees Brazil as the single biggest opportunity for both Hooters and Chanticleer. In the article, Chanticleer CEO, Michael Pruitt, is mentioned as hoping to launch as many as 40 Hooters locations, making the country the largest Hooters footprint outside the U.S.

Brazil holds special interest now, with the upcoming 2014 World Cup and 2016 Summer Olympics, but, as the article points out, the opportunity goes beyond that, since there is a real need for middle-tier restaurants that is not being met. The article quotes Andres Calderon, VP of Research at Hansberger Global Investors, as emphasizing the opportunity for mid-priced U.S. restaurants between the lower-end street vendors or fast food chains and the more formal local restaurants: “. . . you really have a dearth of options in the middle.” He points to Outback Steakhouse, now with over 21 locations in Brazil, as an example of one of the few American restaurants to go after the Brazilian customers. “It’s been a wild success. Literally people will wait an hour in line to eat at Outback,” Mr. Calderon said.

Chanticleer hopes to be the next big success in Brazil, building on success it has had in South Africa, Australia, and Hungary. In addition, the company is also a part owner of Hooters of America (HOA), a privately held company that now controls over 430 Hooters restaurants around the world. Chanticleer President and CEO Michael Pruitt sits on the HOA Board of Directors.

For additional information on Chanticleer Holdings, visit www.ChanticleerHoldings.com

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