The owner of quick service restaurant chain Burger King has been sold by one foreign private equity firm to another.
Blackstone Group said it has purchased Antares Restaurant Group from Anchorage Capital Partners for an undisclosed sum so it can expand the Burger King presence in this region.
Antares has the exclusive franchise to develop the Burger King brand in New Zealand where it already operates 75 restaurants.
Anchorage, a specialist private equity firm, purchased the business in 2009, from the owners and founders Dennis Jones and Mark Backhaus. It was acquired in partnership with the management team. At the time it had revenues in excess of $150 million a year.
Goldman Sachs advised Blackstone and Rippledot Capital Advisers acted for Anchorage.
