The Overseas Investment Office has approved the acquisition of Anchorage New Zealand – owner and operator of Burger King – by Tango New Zealand for more than $100 million.
Tango New Zealand Limited – owned by the Blackstone Group, one of the largest independent managers of private capital in the world – bought all of Anchorage's shares for a total of $107,948,817.
In releasing its decision, the OIO said Blackstone believed its investment experience in the consumer and beverage industry meant it was well placed to help grow the Burger King business.
Anchorage is 92 percent owned by the Anchorage Capital Partnership Fund L.P, Australia.
Idealog has been covering the most interesting people, businesses and issues from the fields of innovation, design, technology and urban development for over 12 years. And we're asking for your support so we can keep telling those stories, inspire more entrepreneurs to start their own businesses and keep pushing New Zealand forward. Give over $5 a month and you will not only be supporting New Zealand innovation, but you’ll also receive a print subscription and a copy of the new book by David Downs and Dr. Michelle Dickinson, No. 8 Recharged (while stocks last).
Idealog is part of ICG. We work with clients like Woolworths New Zealand, All Good, Huffer, Liquorland, Resene, Citta Design, TVNZ, Spark and FCB on their event activations, in-store, in-office or out-of-home signage, content creation and vehicle wraps.