As noted in a recent article by Adam O’Daniel in the Charlotte Business Journal, Chanticleer Holdings’ share price has increased 40% in the last 12 months. O’Daniel also reports that the Charlotte, NC-based firm has been quickly achieving an ambitious growth strategy it laid out just last year.
One year ago Chanticleer Holdings raised $11.2 million in a public offering to begin adding Hooters locations in nations overseas. Since then, it has opened six Hooters restaurants in three countries: South Africa, Hungary, and Australia. It seeks to continue expansion by having four more Hooters restaurants in operation in a fourth country, Brazil, by the end of this year. The first location is planned to open in Rio de Janeiro, just in time for the 2014 FIFA World Cup and 2016 Summer Olympics.
Earlier this week the firm finalized a $3.6 million deal for ownership of American Roadside Burgers, a Charlotte-based burger joint with five locations. It is also expected to close a contract this month for acquisition of an existing Hooters location in Nottingham, England, for $3.15 million. That contract will give Chanticleer Holdings the rights for expansion into London and northern territories. The firm’s current territorial holdings are estimated to hold potential for handling 75 Hooters locations.
Through June 30, 2013, the firm brought in $3.67 million in revenue, a 17% year-over-year increase. O’Daniel highlights that Bill Adams, an international economist, notes the potential for business development in Brazil, citing the strong Brazilian income growth of 10%, its robust immigration, and its low unemployment rate. Mike Pruitt, Chairman, CEO, and President of Chanticleer Holdings, says the firm will continue expanding franchise locations in UK locations such as Birmingham and Manchester should its newly acquired store in Nottingham be a success. The firm holds similar plans for franchise expansion in Hungary, South Africa, and Brazil as well.
To see the entire article, please visit: http://dtg.fm/bizjournals-chanticleer-article
More information about Chanticleer Holdings can be found at: http://www.chanticleerholdings.com
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