Blackstone to Acquire New Zealand's Antares Restaurant Group

Blackstone Group

announced that its private equity funds have agreed to acquire Antares Restaurant Group in New Zealand from Anchorage Capital Partners. Terms of the transaction were not disclosed. Headquartered in Auckland, Antares has the exclusive franchise development rights for the Burger King brand in New Zealand and operates 75 Burger King® restaurants throughout the country. Under the leadership of the current management team, the business is in the early stages of an ambitious refurbishment program while also opening new restaurants to broaden the footprint in an increasing number of local communities across New Zealand. Jan Nielsen, a Managing Director in Blackstone's private equity group, said: “We are extremely excited about the potential we see in Antares and the superb quality of the management team who will be our partners to further develop and grow this business. Burger King is a leading consumer business with an iconic brand and strong growth prospects in the Asia-Pacific region, and we are excited about partnering with Burger King Corporation to expand their presence in the region.”