Shares of Chanticleer Holdings (NASDAQ: HOTR) are up more than 37% mid-day after the owner and operator of multiple international and domestic restaurant brands said it has signed a multi-unit franchise deal with LBBIG LLC to open a minimum of eight Little Big Burger locations in Southern California by 2021. LBBIG is an owner and operator of more than 10 restaurants in the San Diego and Los Angeles markets. Additionally, the founder of LBBIG is a large investor in Chanticleer as a recent lead investor in the company’s debenture private placement. “We are excited to expand Little Big Burger’s presence on the West Coast with a partner who is not only an experienced restaurant owner, but also a large investor in Chanticleer. We look forward to cultivating our partnership as we introduce our iconic brand to local communities in Southern California,” Chanticleer chairman and CEO Mike Pruitt stated in the news release.
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About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), owns, operates and franchises fast casual and full service restaurant brands, including American Burger Company, BGR — Burgers Grilled Right, Little Big Burger, Just Fresh and Hooters. For more information on the company, visit www.chanticleerholdings.com.
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