Burger King Sale Process – Agreement Signed, Transition To New Owners Underway
The Receivers of the parent companies of Burger King New Zealand – Brendon Gibson and Grant Graham of Calibre Partners – are pleased to announce today that they have signed an agreement for the sale of the Burger King business as a going concern.
Subject to satisfying standard conditions, Antares Restaurant Group Limited will be purchased by Tahua Partners, the owners of the Starbucks franchise in New Zealand.
Receiver, Brendon Gibson, said “We are working through the transition with the purchaser now, with settlement targeted to occur on 30 October. This is an excellent outcome for the business, staff, landlords, suppliers and loyal Burger King guests and we would like to take the opportunity to thank all of those stakeholders for their support through what has been an unsettling last six months.”
Burger King in New Zealand employs over 1,800 staff across 78 restaurants throughout the country.
“Securing a going concern sale in the current environment is testament to the drive and commitment of Antares’ management team and all its employees”, Gibson said.