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M&A Deal Summary

Anchorage Capital Partners Acquires Antares Restaurant Group

On September 1, 2009, private equity firm Anchorage Capital Partners acquired restaurant Antares Restaurant Group for 46M NZD

Acquisition Highlights
  • This is Anchorage Capital Partners’ 1st transaction in the Restaurants sector.
  • This is Anchorage Capital Partners’ largest (disclosed) transaction.
  • This is Anchorage Capital Partners’ 1st transaction in New Zealand.
Investment Fate
  • Antares Restaurant Group was sold to a consortium of financial buyers in 2011 for 127M USD.
  • Antares Restaurant Group went bankrupt in 2020.

M&A Deal Summary
Date 2009-09-01
Target Antares Restaurant Group
Sector Restaurants
Buyer(s) Anchorage Capital Partners
Deal Type Divestiture
Deal Value 46M NZD

Target

Antares Restaurant Group

Auckland, New Zealand
Antares Restaurant Group is the exclusive franchisee of Burger King in New Zealand with 75 owned and operated restaurants located throughout the country. Antares Restaurant Group was formed in 1954 and is based in Auckland.

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Buyer(S) 1

Buyer

Anchorage Capital Partners

Sydney, Australia

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2008
PE ASSETS 810M AUD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Anchorage Capital Partners is a specialized private equity firm that focuses on control investments in established businesses with a strong market position or brand which are not performing at their full potential, often as a result of capital constraints, lack of management attention or being a non-core ‘orphan’ in a large corporate. Target companies generally have at least A$100 million of revenue and are valued up to A$250 million. Anchorage will consider companies in a variety of sectors, however, the Firm avoids investing in technology, direct real estate or mineral exploration. The Firm will consider opportunities throughout Australia, New Zealand, and Southeast Asia. Anchorage Capital Partners was established in 2008 and is based in Sydney.

DEAL STATS #
Overall 3 of 25
Sector (Restaurants) 1 of 1
Type (Divestiture) 1 of 7
Country (New Zealand) 1 of 4
Year (2009) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Bisalloy

Unanderra, Australia

Bisalloy is a manufacturer of high tensile, abrasion resistant and armor grade quench & tempered (Q&T) steel plates. Bisalloy manufactures and distributes from its facility in Unanderra. It sells its products through a network of distributors throughout Australia, and internationally through its distribution subsidiaries in Thailand and Indonesia. Bisalloy was founded in 1980 and is based in Unanderra, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-23 Hampton Roads Bankshares

Virginia Beach, Virginia, United States

Hampton Roads Bankshares, Inc. operates as the bank holding company for Bank of Hampton Roads (BOHR) and Shore Bank that provide community and commercial banking services primarily to individuals and small to medium-sized businesses.

Buy -
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