Undervalued and overlooked: Bremworth and Restaurant Brands show NZX’s valuation gap

The owner of KFC in NZ wants off the NZX, and a potential stitch-up could see Bremworth gone too. (Image: Supplied/Jacques Steenkamp)

Riley Kennedy

Fri, 03 Oct 2025

Rebecca Stevenson

Fri, 03 Oct 2025

The NZX looks likely to lose another heavily discounted stock as investors see value in businesses local shareholders do not. Carpet and rug manufacturer Bremworth has stitched up a deal with the owner of its rival, Godfrey Hirst, to take it private. It comes less than a week after Restaurant Brands’ majority owner lobbed in a bid to gobble up the 25% of the shares it didn’t already own and delist the business. A spokesperson for the NZX said both losses were disappointing; however, they said the Bremworth proposal wa...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Finance

RBNZ resists capital settings-research criticisms

The RBNZ has no intention of extending the deadline for submissions beyond Oct 3.

Andy Macdonald 5:00am

Retail

Warehouse chief says layoffs on table amid profit glut

Margin pressure is compounding analyst concerns that cuts can only cut so deep.

Gregor Thompson 5:00am

Warehouse chief says layoffs on table amid profit glut

Energy

Govt goes to market over LNG and leveraging demand

Tenders launched, details given.

Ian Llewellyn 5:00am

Govt goes to market over LNG and leveraging demand

Sponsored

Fiji’s exclusive side revealed

Private islands and 5-star luxury, closer than you think.

Tourism Fiji

Sponsored

The double edge of AI in cyber security

Artificial intelligence has the potential to become both a lifeline and a liability for modern organisations, as a revolutionary tool capable of spotting threats at lightning speed, but also the ultimate weapon in the hands of cybercriminals.

Spark