FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

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Restaurant Brands New Zealand Limited

High
Group★Golden 50est. scale

NZX / ASX RBD.NZ / RBD.AX · Australia_NZ

Listing status
private
Operating model
Franchise / master franchise
Scale basis
Revenue proxy
Confidence
High
Segment
qsr multi brand

澳新多国 QSR(KFC/Pizza Hut/Taco Bell/Carl's Jr,NZ/澳/夏威夷/加州)。scale 取 FY2024(截 2024-12-31)连结 Total operating revenue NZD 1,474.7M(tier-2 revenue proxy,含 PH NZ 加盟金 Other revenue)→ $892.2M @ DEXUSNZ 2024 期间均值 0.604985 USD/NZD。Pizza Hut NZ sub-franchised(141 中 135 独立加盟商经营,其销售不计 store sales,RBD 取 royalty/fee);KFC/TB/Carl's Jr(NZ)+澳/夏威夷/加州全自营。2025-12-05 被 Finaccess 收购退市(NZ$5.05/股)→ listing private、FY2024 末次一手、source_status frozen。

Scale basis note

Recognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
521 stores
FY2024 (year ended 31 December 2024): store numbers now total 521 (owned and franchised)
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · store numbers now total 521 (owned and franchised)
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Recognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
$892.2M
FY2024 (year ended 31 December 2024): Total Group store sales hit a record high of $1,393.6 million, an increase of $71.4 million (5.4%) on FY23
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Total Group store sales hit a record high of $1,393.6 million, an increase of $71.4 million (5.4%) on FY23
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Revenue proxy
Precision: Estimated
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$1.71M
Screening proxyest.
Derived scale_per_store using scale ÷ store_count (521) at the revenue-proxy basis; not a separately reported company metric.
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · RBD FY2024 Annual Report (year ended 31 Dec 2024; audited Consolidated Statement of Comprehensive Income): Total operating revenue NZD 1,474,743k; 521 stores; NPAT NZD 26,528k. RBD delisted from NZX/ASX 2025-12-05 (Finaccess takeover).
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$16.05M
FY2024 (year ended 31 December 2024): The reported NPAT of $26.5 million for the year was up $10.2 million (62.6%) on FY23.
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · The reported NPAT of $26.5 million for the year was up $10.2 million (62.6%) on FY23.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$892.2M
NZD 1,474,743 thousand FY2024 consolidated Total operating revenue; USD estimate uses FY2024 period-average 0.604985 USD/NZD.
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · RBD FY2024 Annual Report (year ended 31 Dec 2024; audited Consolidated Statement of Comprehensive Income): Total operating revenue NZD 1,474,743k; 521 stores; NPAT NZD 26,528k. RBD delisted from NZX/ASX 2025-12-05 (Finaccess takeover).
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Source-backed

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$370M
Last known before delisting (approx. late 2025): As of June 2026 Restaurant Brands New Zealand has a market cap of $0.37 Billion USD.
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · As of June 2026 Restaurant Brands New Zealand has a market cap of $0.37 Billion USD.
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Market cap (USD)
Precision: S3 Market Data Last Known Delisted
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

10/19 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
chickenS2 official secondary (opens in new tab)
Cuisine (secondary)
pizzaS2 official secondary (opens in new tab)
Service model
QSRS4 (opens in new tab)
Price tier
valueS2 official secondary (opens in new tab)
Company
Founded
1,997~
HQ country
New ZealandS1 official primary (opens in new tab)
CEO
Arif Khan~
Employees
12,550 headcountS2 official secondary (opens in new tab)~
Ownership
Parent
Controlled by Finaccess Capital (Mexican Grupo Finaccess, via Global Valar S.L.), ~75.02% — acquired control March 2019S3 supplementary (opens in new tab)
PE / holding
Finaccess Capital / Grupo Finaccess (Mexican holding/investment group) is the controlling ~75% holding ownerS2 official secondary (opens in new tab)
Recent M&A
Finaccess made a full takeover/buyout offer (~NZ$360m, ~NZ$5.05/share) in Sept 2025 to acquire the shares it does not already ownS3 supplementary (opens in new tab)
Growth
System sales YoY
5.4%S1 official primary (opens in new tab)
Revenue YoY
not disclosed
Net new units
521 total stores at 31 Dec 2024S2 official secondary (opens in new tab)
Pricing & digital
Avg check
not disclosed
Digital sales
not disclosed
Franchise terms
Royalty
~5%S3 supplementary (opens in new tab)~
Franchise fee
not disclosed
By-market footprint
Australia
83 stores◑derivedS1 official primary (opens in new tab)
New Zealand
293 stores◑derivedS1 official primary (opens in new tab)
United States
141 stores◑derivedS1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed11/13 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
521 stores
521 network stores at FY2024 year-end (2024-12-31): 381 RBD owned/operated (NZ 155, Australia 85, Hawaii 70, California 71) + 140 franchised (mostly the 135 independent-franchisee Pizza Hut NZ stores).
Source-backedS1 official primary (opens in new tab)
Operational scale
$892M
FY2024 (2024-01-01..2024-12-31) consolidated Total operating revenue NZD 1,474.7M across 521 network stores; tier-2 revenue proxy. Pizza Hut NZ sub-franchised (135/141 independent franchisees → franchise-fee income in Other revenue, not store sales). USD estimate uses FY2024 period-average 0.604985 USD/NZD (NZD-per-USD 1.652934).
Source-backedS1 official primary (opens in new tab)
Revenue
$892M
NZD 1,474,743 thousand FY2024 consolidated Total operating revenue; USD estimate uses FY2024 period-average 0.604985 USD/NZD.
Source-backedS1 official primary (opens in new tab)
Company-operated
see brand drilldown
Franchised
see brand drilldown

Brand drilldown

non-additive

Per-brand detail — NOT additive (brands may use different bases / periods) and NOT counted in rankings. Listed for transparency only.

rbd nz rbd ax restaurant brands new zealand limited
Direct vs franchise split
73.1% of stores company-operated
As at 31 Dec 2024
Source-backedS1 official primary (opens in new tab)
AUV — average unit volume
2.675 NZD million/store/yr (group blended)
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Same-store sales
4.6% yoy (new zealand)
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Unit / store-level profit
13.9% of store sales (group)
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Net store movement
521 total stores at 31 Dec 2024
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Restaurant Brands New Zealand Limited
Operating margin
6.4%
FY2024
Source-backedS1 official primary (opens in new tab)
Food cost %
27.5%
FY2024
Source-backedS1 official primary (opens in new tab)
Labor cost %
27.2%
FY2024
Source-backedS1 official primary (opens in new tab)
Marketing cost %
4.9%
FY2024
Source-backedS1 official primary (opens in new tab)
Delivery cost %
0.7%
FY2024
Source-backedS1 official primary (opens in new tab)

Single-store model

6/8 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Geographies different currencies; NZ owned AUV overstated.
Group: NZ$1,393.6m store sales / 521 stores = ~NZ$2.68m blended. By division (local ccy / stores): NZ NZ$625.9m/155 owned ~NZ$4.04m (overstated, division has 295 incl 135 franchised Pizza Hut); Australia A$284.2m/85 ~A$3.34m; Hawaii US$169.5m/70 ~US$2.42m; California US$107.3m/71 ~US$1.51m.
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Single-store profit
Store EBITDA is non-GAAP before G&A, NOT net store profit.
Group Store EBITDA NZ$194.3m = 13.9% of sales (FY23: 13.5%). By region: NZ 16.6% (NZ$104.0m); Australia 11.4% (A$32.3m); Hawaii 16.9% (US$28.7m); California 4.3% (US$4.6m, down from 8.4% after 29% min-wage hike).
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Initial investment
Aggregate capex not a reliable per-store build cost.
—
FY24 (year ended 31 Dec 2024)
GapS1 official primary (opens in new tab)
Franchise fee / royalty
5.9% blended; per-brand rates not disclosed; may exclude advertising co-op.
Royalties PAID by RBD to franchisors NZ$82.25m FY24 (FY23: NZ$78.13m), an opex ~5.9% of group store sales (NZ$1,393.6m). DIRECTION: OUTBOUND - RBD is the franchisee paying Yum! (KFC/Pizza Hut/Taco Bell) and CKE (Carl's Jr). Separately RBD RECEIVES royalties from independent NZ Pizza Hut franchisees. Upfront franchise fees capitalised as intangible 'Franchise fees' (NZ$57.7m carrying).
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Payback period
Both inputs absent.
—
FY24
GapS1 official primary (opens in new tab)
Same-store sales
Per division, not per brand; no consolidated group SSS.
SSS FY24: New Zealand +4.6%; Australia -3.3%; Hawaii +4.2%; California -3.9% (improving in Q4). No single group SSS.
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Store open / close
Per-brand counts across geographies not given (only NZ Pizza Hut split).
Total 521 stores (381 owned + 140 franchised). Owned year-end: NZ 155 (FY23 147, +8), Australia 85 (84, +1), Hawaii 70 (70, 0), California 71 (75, -4). Group +5 owned net (9 opened, 4 closed in California). NZ Pizza Hut 141 (135 franchised + 6 owned), +17 new franchised; NZ franchise +18 new. NZ division total 295 vs 269 FY23.
FY24 (year ended 31 Dec 2024)
Source-backedS1 official primary (opens in new tab)
Company-operated share
'Franchised' = RBD-sub-franchised (RBD is master franchisee), not stores it operates for others.
RBD is itself a FRANCHISEE/operator. Of 521-store portfolio, 381 owned/company-operated (73.1%) + 140 sub-franchised (mostly 135 NZ Pizza Hut under RBD's master franchise). Excl NZ Pizza Hut, ~100% of KFC/Taco Bell/Carl's Jr estate company-operated. Pays royalties up to Yum/CKE.
As at 31 Dec 2024
Source-backedS1 official primary (opens in new tab)

Cost structure

5/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS27.5%
FY2024· NZD1,474.7m rev; royalties 5.6%; delivery=distribution (own logistics)S1 official primary (opens in new tab)Source-backed
KFC/TB/PH NZ-AU-HI-CA operator. Rent IFRS16-capitalized (only 0.65% short-term visible).
Labor27.2%
FY2024· NZD1,474.7m rev; royalties 5.6%; delivery=distribution (own logistics)S1 official primary (opens in new tab)Source-backed
KFC/TB/PH NZ-AU-HI-CA operator. Rent IFRS16-capitalized (only 0.65% short-term visible).
Rent / occupancy—
FY2024· NZD1,474.7m rev; royalties 5.6%; delivery=distribution (own logistics)Gap
KFC/TB/PH NZ-AU-HI-CA operator. Rent IFRS16-capitalized (only 0.65% short-term visible).
Delivery commission0.7%
FY2024· NZD1,474.7m rev; royalties 5.6%; delivery=distribution (own logistics)S1 official primary (opens in new tab)Source-backed
KFC/TB/PH NZ-AU-HI-CA operator. Rent IFRS16-capitalized (only 0.65% short-term visible).
Marketing4.9%
FY2024· NZD1,474.7m rev; royalties 5.6%; delivery=distribution (own logistics)S1 official primary (opens in new tab)Source-backed
KFC/TB/PH NZ-AU-HI-CA operator. Rent IFRS16-capitalized (only 0.65% short-term visible).
Operating margin6.4%
FY2024· NZD1,474.7m rev; royalties 5.6%; delivery=distribution (own logistics)S1 official primary (opens in new tab)Source-backed
KFC/TB/PH NZ-AU-HI-CA operator. Rent IFRS16-capitalized (only 0.65% short-term visible).
Not separately disclosed33.3%

Supply chain

4 suppliers · 0 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

Coca-Cola Europacific Partners (NZ business; formerly Coca-Cola Amatil NZ)NASDAQ:CCEP
Beverage
discloses as: Restaurant Brands New Zealand Limited
—named (no % disclosed)S3 newssource (opens in new tab)
Inghams Group LimitedASX:ING
Protein
discloses as: Restaurant Brands New Zealand Limited
—named (no % disclosed)S3 newssource (opens in new tab)
—named (no % disclosed)S3 newssource (opens in new tab)
Lancer (Lancer Worldwide)
Equipment
discloses as: Restaurant Brands New Zealand Limited
—named (no % disclosed)S3 newssource (opens in new tab)
Tegel Foods Limited
Protein
discloses as: Restaurant Brands New Zealand Limited
—named (no % disclosed)S3 newssource (opens in new tab)

Peers in this segment

Yum! BrandsGMV / system salesRestaurant Brands InternationalGMV / system salesAmRest Holdings SECompany-operated revenue (proxy)TAB Gida Sanayi ve Ticaret A.S.GMV / system sales

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.