Decision | Consent granted |
|---|---|
Decision Maker | Overseas Investment Office |
Decision Date | 28 February 2019 |
Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in up to 100% of the shares of Restaurant Brands New Zealand Limited, the consideration of which exceeds $100m. |
Consideration | Approximately $883,300,000 (for up to 75% of the shares) |
Applicant | Global Valar, S.L. |
Vendor | Existing shareholders in Restaurant Brands New Zealand Limited |
Background | Restaurant Brands New Zealand Limited (Restaurant Brands) is a corporate franshisee, which owns and operates quick service restaurants in New Zealand, Australia, Hawaii, Guam and Spain. It’s restaurant support centre and corporate office is located in Penrose in Auckland. Restaurant Brands owns 261 stores, including 149 KFC, Pizza Hutt and Carl’s Jr. stores in New Zealand (as of October 2018). The Applicant is Spanish company Global Valar, S.L., which is a special purpose vehicle, established to facilitate the acquisition of the Restaurant Brands shares by Mexican company Finaccess Capital S.A. de C.V. (Finaccess). Finaccess has experience investing in food and beverage businesses and intends to retain and grow the Restaurant Brands business. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
More information | James Hawes |