Burger King's 'bargain' sale price revealed

Five Burger King outlets were closed when associated entities went into receivership.

Thu, 06 May 2021

New Zealand’s Burger King franchise sold to local owners for $30.5 million last year leaving the fast food stores' bankers with a hefty loss, company documents show.Private equity firm Blackstone Group had bought the restaurant entities in 2011 for $108 million, but the Antares Group of companies, which held the Burger King assets, were moved into receivership last year.Most of the debt was wiped as receivers prepared the fast-food chain for sale, with Tahua Partners the eventual owner.Burger King's lenders under Blackstone, a syn...

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