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TPF Group confirms Hell Pizza buy

Media Statement

1 December 2006

TPF Group confirms Hell Pizza buy

TPF Group (TPF), operator of the New Zealand Burger King franchise, is pleased to announce that it has bought the HELL master franchise for New Zealand.

The announcement is welcomed by both parties and provides a platform for the New Zealand famous HELL business to maintain its momentum in the competitive New Zealand fast food industry.

HELL has 64 independently-owned franchises throughout New Zealand. The business is an excellent fit within TPF, who were also the founders and owners of the highly successful Burger King brand in New Zealand in 1995.

Mr Dennis Jones, Managing Director of TPF, says “HELL is a great New Zealand success story, they have a fantastic brand and we see huge potential in the business going forward.

“Since its inception in 1996, HELL has commanded a devoted following through its energy, marketing and creative approach to making what we believe to be the best pizza available in the fast food market at present.

Warren Powell, one of the three founders of HELL, is extremely pleased to have the brand acquired by TPF. “The truth is that TPF are ideally placed to take HELL to the next level. We wanted someone who would respect our legacy, and protect the brand’s current position. We are confident that TPF will do that given their successful track record with Burger King.”

Colin Mellar, who has been appointed by TPF as the new General Manager of HELL, says he will be spending time getting to know franchisees and staff around the country and his team will ensure that the factors that make HELL what it is today are retained. The business will operate as an independent subsidiary of TPF.

“Based on their success to date there won’t be any major changes to the HELL business. It will be business as usual for everyone and the only significant change we see will be increasing the number of HELL outlets, giving more New Zealanders the opportunity to enjoy their pizza.”

The official ownership transfer takes place today 1 December 2006.

The acquisition provides a significant opportunity for both HELL and Burger King to further strengthen their positions in a market that is being pressured by increased costs in labour, food and energy. Economies of scale in business support services and supply chain management will assist in this area. HELL will remain 100% franchised with existing operators under its new owner. Burger King has 66 restaurants throughout New Zealand.


Ends

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