Chanticleer Holdings, Inc. (OTCBB:CCLR) announced today that the Company has bought out SG Shaw Foods (Pty) Ltd. from all Hooters South Africa locations giving the Company and its limited partners majority ownership.\u00a0 Majority ownership and operating control of the three restaurants will allow Chanticleer Holdings to report consolidated revenue and operating results as part of its public company financial reporting obligations.<\/p>\n
As part of the deal, Chanticleer has also obtained Shaw’s interest in the Hooters franchise rights for South Africa and formed a South African management company.\u00a0 Under the new management company, all Hooters South Africa locations will be operated by Gordon Jestin and Mark Philip Hezlett.\u00a0 Mr. Jestin will take on the role of Chief Operating Officer and manage day-to-day operations.\u00a0 Mr. Hezlett will serve as Chief Financial Officer.\u00a0 Mr. Jestin was part of the original management team under the joint venture between Chanticleer and SG Shaw Foods.\u00a0 Mr. Hezlett acted as an external accountant to the venture.<\/p>\n
Michael Pruitt, Chief Executive Officer of Chanticleer Holdings, stated, “The cornerstone of Chanticleer Holdings has always been to identify and execute on value based growth opportunities in privately-held, and publicly-traded companies.\u00a0 By acquiring full ownership of all Hooters South Africa locations with our partners, we have continued our commitment to our shareholders by providing them with a reliable and profitable investment in a market where the Hooters brand is in demand.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Chanticleer Holdings, Inc. (OTCBB:CCLR) announced today that the Company has bought out SG Shaw Foods (Pty) Ltd. from all Hooters South Africa locations giving the Company and its limited partners majority ownership.\u00a0 Majority ownership and operating control of the three restaurants will allow Chanticleer Holdings to report consolidated revenue and operating results as part of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[1736],"class_list":{"0":"post-4506","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-hooters","8":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/4506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=4506"}],"version-history":[{"count":2,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/4506\/revisions"}],"predecessor-version":[{"id":4508,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/4506\/revisions\/4508"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=4506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=4506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=4506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}