Burger King NZ up for sale
posted on 3rd March 2019
The whole of the Burger King New Zealand franchise is up for sale, following a decision by American private equity firm Blackstone to sell the company. Blackstone paid close to $108m in 2011 for the franchise, which makes an estimated $20 million per year according to the Australian Financial Review. The company does not sub-franchise, with 83 of the 85 Burger King restaurants in New Zealand being operated by the Blackstone-owned Antares Restaurant Group.
Blackstone was rumoured to be receiving offers for Burger King in 2016, but held on to the business at that time.
A spokesperson for Craigs Investment Partners confirmed it has been mandated to sell the business on behalf of Blackstone. Deutsche Craigs has been hired to run an auction for the fast food business.
The last few years have been turbulent for Burger King, which has faced scrutiny for its treatment of staff and questionable working conditions.