Chanticleer Holdings Inc., which owns and operates Hooters restaurants in international emerging markets, has agreed to acquire the one-unit fine-dining Spoon Bar & Kitchen in Dallas.
The Charlotte, N.C.-based Chanticleer said Thursday that it intends to buy the 58-seat seafood restaurant from Irving, Texas-based CapRock Services, a financial services company. Terms of the deal were not disclosed.
Spoon executiveJohn Tesar will remain with the restaurant and work with Chanticleer create a fast-casual version of the concept.
“This is an exciting opportunity for Chanticleer and chef Tesar to expand the Spoon brand into a new, fast-casual dining concept,” said Mike Pruitt, chief executive and president of Chanticleer Holdings, in a statement. “In fact, with John’s culinary knowledge, he will be invaluable to all of our brands.”
Chanticleer, with CapRock and Tesar, plans to open additional seafood concepts in Dallas. CapRock said it will continue to provide core services and day-to-day management for each of the new locations, and Tesar will continue to oversee the brand’s cuisine.
Spoon has received a number of honors since opening in November 2012, including making the list of top new restaurants in Bon Appétit, Condé Nast Traveler and Esquire magazine. The restaurant offers a raw bar that offers two selections of oysters per night, a semi-private wine room with a chef’s table, and an interactive counter overlooking the open kitchen where diners can sample experimental cuisine.
Chanticleer bought a minority interest in the Atlanta-based Hooters of America in January 2011 and went public with an $11 million initial public offering in June 2012.
The company owns or has exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has a joint venture with the Hooters franchisee in Australia. In August, the company announced plans to by a Hooters restaurant in Nottingham, England.
CapRock executives said the Chanticleer deal was a “fantastic opportunity” for the company and Tesar. Joe Womack, president of CapRock, said, “With our extensive expertise in operational and financial management, and Chanticleer’s financial strength and successful track record in the development of restaurant concepts, we see a bright future between the two groups.”
Womack added that CapRock expects to do further deals with Chanticleer. “We are actively searching for growth concepts, with three to 10 units, to help add to Chanticleer’s growing portfolio,” Womack said.