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Chanticleer Holdings buys another burger concept

Chanticleer Holdings buys another burger concept

Acquisition gives company its fourth better burger chain

Chanticleer Holdings Inc. has acquired another burger chain. The Charlotte, N.C.-based operator of Hooters of America restaurants said today that it has reached a deal to buy eight-unit Portland, Ore., concept Little Big Burger.

Terms of the deal were not disclosed, but the acquisition is the company’s fifth purchase of a burger concept in less than two years, and fourth in less than a year.

“The financials were very attractive,” said Rich Adams, president and chief operating officer for American Burger Co., which operates Chanticleer’s burger concepts.

“Once we went out and visited the restaurants and saw the ease of operations, the simplicity of the menu, the brand loyalty and the following and who is eating at the restaurants — mothers with children, business workers, white collar, blue collar.

“We loved the look, the feel, the taste of the food. They just deliver. To me it’s a home run.”

Micah Camden and Katie Poppe founded Little Big Burger in 2010. The chain generated about $6 million in revenue last year. The company specializes in cooked-to-order burgers and fries. Camden is the chef behind Little Big Burger, Adams said, and is renown in the Portland market.

The chain is about to open its ninth location, in Portland, later this year.

“Little Big Burger is the first restaurant concept that Micah and I created together, and it will always be special to us,” Poppe said in a statement. She and Camden will continue to work with Little Big Burger the first year “to provide a smooth transition,” Poppe added.

Chanticleer has been on a buying spree lately, particularly when it comes to burger chains. The company bought what is now known as American Roadside Burgers in 2013, now known as American Burger Co. It has since bought local chains The Burger Company, BGR: The Burger Joint and BT’s Burger Joint.

Chanticleer also owns a majority interest in Just Fresh restaurants in the U.S.

While Chanticleer has been buying up different brands around the country, the company has no plans to change the names of the concepts it acquires.

Little Big Burger “has a cultlike following,” said Mike Pruitt, Chanticleer’s CEO. “It has incredibly high ratings on social media. It’s won all kinds of awards domestically, and not just in the burger space.”

Contact Jonathan Maze at [email protected].
Follow him on Twitter at @jonathanmaze

TAGS: Finance News
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