Chanticleer Holdings, Inc. (HOTR) Sees Hungary as Portal to Europe

Chanticleer Holdings, part owner of Hooters of America (HOA) and a growing developer of iconic Hooters restaurants internationally, has a growth strategy based upon expanding the Hooters brand in emerging markets around the world through partnerships and/or acquisitions.

One of Chanticleer’s current focal points is Europe, and the company has already opened its first European Hooters in Budapest, Hungary. Chanticleer acquired franchise rights in Hungary in 2012, partnering with Alex Hemingway and his team, forming Crown Restaurants, with the goal of operating Hooters franchises in Europe, using Budapest Hungary as an operational headquarters and with Alex Hemingway as Director of Chanticleer Europe.

Hungary, an excellent base for Europe, has rapidly transformed itself from a centralized economy to a free market economy. With a population of roughly 10 million, a high literacy rate, along with heavy tourism and active foreign investment, Hungary is a portal to the transition economies of Eastern Europe. It fits with Chanticleer’s overall criteria for location selection:

• Strong local market dynamics and demographics
• Attractive leasehold economics
• Open territory or availability of experienced and well-capitalized restaurant operators

In particular, Alex Hemingway brings a highly successful track record in Central Europe’s quick-service-restaurant industry, including international executive management experience. He was President and Chief Executive of Central European Franchise Group from 1999-2005, owners and operators of the Pizza Hut and Kentucky Fried Chicken brands in Hungary, as well as three local national brands. Both brands had the highest customer feedback scores in the region for YUM! Restaurants International. He also became the CEO of Central Europe’s largest restaurant company, Orient Rt., with over 130 operating units. Between the two companies, he had responsibility for over 180 units and 5,000 people. In addition, he founded and served as Director of the Fast Food Association of Hungary.

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

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