CHARLOTTE, NC--(Marketwired - October 01, 2015) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), owner and operator of multiple restaurant brands internationally and domestically, announced today that it has closed the acquisition of Little Big Burger ("LBB"), a gourmet fast-casual restaurant concept. The company has eight locations in Oregon and a ninth location scheduled to open prior to the end of 2015, in the Lloyd District in Portland.
"With the completion of our capital raise we are excited to close the acquisition of Little Big Burger. LBB is an iconic brand that has discovered a unique way to capture the hearts of the next generation of burger-lovers. We are confident that LBB's proven, scalable business model will provide tremendous opportunities for our expansion in the Pacific Northwest, and more importantly, will add over $1 million of annual EBITDA immediately, taking us to EBITDA positive in Q4 2015 and onward," said Mike Pruitt, CEO of Chanticleer Holdings, Inc.
"Micah and I are beyond excited. With the wisdom and operational depth of Chanticleer onboard, we are energized by the prospects ahead for this amazing concept. The right captain is at the helm and we're looking forward to a successful journey forward," commented Katie Poppe, owner of Little Big Burger.
Chanticleer Holdings now has 62 locations worldwide including fifteen Hooters restaurants, five American Burger Co. restaurants, seven Just Fresh locations, twenty-three BGR the Burger Joint locations (including 14 franchise locations), four BT's Burger Joint locations and eight Little Big Burger locations.
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including Australia, South Africa, and Europe, and two Hooters restaurants in the United States. The Company also owns and operates American Burger Co., BGR the Burger Joint, BT's Burger Joint, Little Big Burger and owns a majority interest in Just Fresh restaurants in the U.S.
For further information, please visit: www.chanticleerholdings.com
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