Restaurant Brands NZ is to acquire the seven remaining Carl’s Jr. stores in Auckland from Forsgren NZ for $10.5 million.

The acquisition will result in Restaurant Brands being the sole operator of all 16 Carl’s Jr. stores in NZ.

A Master Licensing Agreement with CKE Restaurant Holdings has also been signed to allow Restaurant Brands to sublicense the stores to third party franchisees in NZ.

The company said that it sees the acquisition as a strategic opportunity to add critical mass to its Carl’s Jr. chain, and to be able to use volume to further leverage marketing and supply chain opportunities.

“Licensing smaller franchisees to operate the Carl’s Jr. brand in locations where they can operate the business effectively will allow more rapid expansion of the Carl’s Jr. store network,” Restaurant Brands said in a statement.

“It is envisaged the model will work in much the same way as the successful mixed ownership model Restaurant Brands has set up with its other brands.”

Settlement is due in mid-November, with the acquisition subject to conditions including the approval of CKE Restaurants Holdings, the Carl’s Jr. franchisor and assignment of leases.