Subject to satisfying standard conditions, Tahua Partners, a New Zealand retail and hospitality investment company has signed a binding agreement to acquire Antares, trading as Burger King New Zealand.
The existing Antares management team will continue to run the company’s operations. Antares went into receivership in April, during the coronavirus lockdown, but continued to trade during the sale process.
“Tahua is a New Zealand owned and operated company of experienced retailers who are passionate about creating great hospitality businesses with major brands,” commented Tahua executive director John Elliott.
“Based on the strength of the Burger King brand and the loyalty of our valued team members, supply partners and guests, we see a lot of potential for the brand in New Zealand.”
Burger King is the second global brand Tahua is expected to add to its New Zealand owned and operated hospitality and retail group after it acquired the local licence to operate Starbucks in 2018.