Blackstone Group buys owner of Burger King in NZ

The owner of quick service restaurant chain Burger King has been sold by one foreign private equity firm to another.

Blackstone Group said it has purchased Antares Restaurant Group from Anchorage Capital Partners for an undisclosed sum so it can expand the Burger King presence in this region.

Antares has the exclusive franchise to develop the Burger King brand in New Zealand where it already operates 75 restaurants.

Anchorage, a specialist private equity firm, purchased the business in 2009, from the owners and founders Dennis Jones and Mark Backhaus. It was acquired in partnership with the management team. At the time it had revenues in excess of $150 million a year.

Goldman Sachs advised Blackstone and Rippledot Capital Advisers acted for Anchorage.

(BusinessDesk)

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer
SKC - Updated FY25 Full Year Earnings Guidance