Starbucks owners buy Burger King NZ

posted on 20th October 2020

20 October 2020 - Tahua Partners, the company which owns the New Zealand master licence for Starbucks, has bought Anares, the trading company which operates Burger King in New Zealand. After reportedly seeking a buyer for some time, the parent group of companies which own Antares went into receivership on April 14, during the coronavirus lockdown but Antares continued to trade during the sale process. The price was not disclosed.

Burger King is the third largest quick service restaurant chain in New Zealand, with 78 restaurants nationwide employing 1800 staff. Neither Starbucks nor Burger King offers sub-franchises in this country, with all stores being company-owned.

After Antares’ parent company went into receivership, negotiations with landlords, creditors and the franchise holder, led to a compromise, allowing the restaurants to remain open while a buyer was found.

However, five Burger King restaurants – Lambton Quay, Courtenay Place in Wellington and Queen Street, Takapuna and West City in Auckland – would close as part of the deal.

Read more at https://www.stuff.co.nz/bus...

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