Australian private equity firm Anchorage Capital Partners confirmed it is in talks to buy the New Zealand arm of the Burger King chain.
Partner Mark Bayliss said the firm was in "heavy discussions" with Tasman Pacific Foods which owns the New Zealand master franchise, The New Zealand Herald reported.
It is understood Tasman Pacific Foods has wanted to unload the 71 Burger King franchises for some time, following the sale of its 61 outlet Hell Pizza franchise back to its founders this year.
Anchorage Capital Partners was formed in 2007, evolving from private equity investor Interbank Capital Partners.
Nothing more could be said until the talks finished, Mr Bayliss said.
3 News / NZPA