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Third Hooters restaurant for SA
US-based Chanticleer Holdings, Inc. has announced plans to open its third Hooters restaurant in Cape Town, South Africa, "Hooters on Edward Street", in March 2011. Chanticleer's other South African Hooters restaurants include "Hooters on the Rocks" and "Hooters on the Buzz", located in Durban and Johannesburg, respectively.
The trio of restaurants is part of Chanticleer Holdings' joint venture with Durban-based SG Shaw Food. Together the firms plan to open at least four additional Hooters restaurants in South Africa over the next five years but believes there is a much greater opportunity in this region.
"Hooters on Edward Street" will occupy nearly 560m² in the Manhattan Plaza on Edward Street, which is filled with popular bars, nightclubs and restaurants and which it is hoped will create substantial traffic for the Hooters restaurant. The new space can accommodate 280 diners, and will incorporate a large outdoor patio.
Chanticleer Holdings, Inc. formed HOOT SA 111, LLC, for the purpose of contributing 50% of the start-up capital for the South Africa Hooters project in Cape Town. Chanticleer led this investment and raised the remainder from outside private investors. Chanticleer Advisors is the manager of HOOT SA 111, and will participate in the profits of all three Hooters South African operations.
