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Chanticleer Holdings Finalizes The Acquisition Of The Burger Company

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Chanticleer Holdings,
Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), owner and
operator of multiple restaurant brands internationally and domestically,
announced today that the Company has finalized the purchase of The Burger
Company in Charlotte, NC, an award winning flex casual burger joint in the
fast growing better-burger space.
Rich Adams, President and COO of American Roadside Burgers, commented, "The
Burger industry is a $72 billion dollar market with the better-burger
category being the fastest growing sector. The Burger Company acquisition,
with its unique format of the restaurant, helps prepare us to begin
franchising both domestic and internationally. The Burger Company also
complements the rebranding of American Roadside Burgers as we continue to
grow and evolve into the American Burger Company."
Chairman and CEO of Chanticleer Holdings, Mike Pruitt, commented, "This
acquisition is an integral step in our strategic growth plan as we prepare
to take the better-burger category into our international markets. Our
management teams in these markets have already shown strong interest in
adding the concept in their region and we believe the rebranding and
marketing of the American Burger Company will appeal to these international
markets."
"We are proud of what our family-run business has accomplished over the last
few years and now we have the opportunity to take this already profitable
operation and become more profitable with Chanticleer's corporate team in
place. We are also excited to remain a part of Chanticleer and becoming a
shareholder of the Company," David Smith, owner of The Burger Company.
For more information on the terms of the acquisition, please refer to the
Company's Form 8-K filing filed with the SEC on September 10, 2014,
available online at www.sec.gov.

Posted-In: M&A News Press Releases

 

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