Chanticleer
Holdings told investors this afternoon that it now maintains majority ownership
of Just Fresh Restaurant chain. Earlier this week Chanticleer executed its
Assignment, Assumption, Joinder and Amendment Agreements with JF Restaurants,
LLC and JF Franchising Systems, LLC, owners of the Charlotte-based Just Fresh
Restaurant chain. With the finalization of this transaction, Chanticleer now
holds 51% preferred membership interest in both entities.
In
addition to completing the acquisition, the company executed an Assignment
Agreement with a current owner, increasing its preferred membership interest in
JF Restaurants, LLC and JF Franchising Systems, LLC by 5% to 56%.
The
Just Fresh restaurant chain operates 5 company-owned locations throughout North
Carolina, offering fresh-squeezed juices, gourmet coffee, fresh-baked goods and
premium-quality, made-to-order sandwiches, salads and soups. Just Fresh
believes a fresher, more nutritional diet can have positive effects on physical
health and overall wellness. Chanticleer and Just Fresh management teams plan
to expand in the fast-growing restaurant segment of healthy foods by reaching
out to thousands of customers in new markets domestically and internationally.
Mike
Pruitt, Chairman and Chief Executive Officer, commented, “We are excited to
have completed the acquisition of Just Fresh and to have an opportunity to
increase our interest in JF Restaurants. We have developed an expansion model
that will enable us to grow the brand organically and consider franchising
opportunities in both domestic and international markets.”
For
more information on Chanticleer, visit www.chanticleerholdings.com
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