Restaurant Brands New Zealand, the nation's largest fast food operator, agreed to buy seven Carl's Jr stores owned and operated by Forsgren NZ for $10.5 million, making it the sole operator of the burger chain brand in New Zealand.
However, Craigs Investment Partners broker Chris Timms questioned how much further the company could expand its brands without spreading too thinly its existing client base.
''We have to consider whether they are attracting more customers through more brands or whether they are trying to retain customers through a variety of offerings.''
Restaurant Brands already operated KFC, Pizza Hut and Starbucks Coffee, he said.
The acquisition from family interests of Barry Forsgren would take the company's number of Carl's Jr stores to 16, Auckland-based Restaurant Brands said in a statement.
Mr Forsgren opened the first Carl's Jr stores in New Zealand in July 2011.
Carl's Jr, Restaurant Brands' newest chain, turned to a profit of $100,000 in the first half of its financial year from a loss of $200,000 in the year earlier period.
Sales rose 34% to $8.8 million. Restaurant Brands added Carl's Jr to its chain in November 2012 to better compete with McDonald's Restaurants (NZ) and Burger King Corp.
The company envisages 60 Carl's Jr stores.
''We see the acquisition as a strategic opportunity to add critical mass to our Carl's Jr chain and will use the increased scale to further leverage marketing and supply chain opportunities,'' Restaurant Brands chief executive Russel Creedy said.
The sale was expected to be completed in the middle of the month, pending the approval of US-based franchisor CKE Restaurants Holdings and assignment of leases.
Restaurant Brands said it would offer work to existing Forsgren employees.
Separately, Restaurant Brands signed a master licensing agreement with CKE which would allow Restaurant Brands to sublicense Carl's Jr stores in New Zealand to third-party franchisees.
''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,'' Mr Creedy said.
Restaurant Brands operated a similar model with its other brands, with the company receiving a share of royalties and fees in return for the development and supervision of sublicensed stores.
CKE international division president Ned Lyerly said the company was ''thrilled'' by the performance of its brand in New Zealand and believed the acquisition by Restaurant Brands would accelerate growth.
