Hickey, who was in Queenstown to attend the launch party with his wife Sue and business partners on Monday night, owns a 25% share in the franchise.
He said he would be a silent shareholder in the business, which would not undergo any major changes after the takeover.
He is also the co-owner of New Plymouth cafe Airpresso.
Craig MacFarlane and Russell Boddington, who also have a share in the New Plymouth cafe, and Karen and Kevin Gibson and Cara Colquhoun are the other shareholders in Joe's Garage.
Ms Colquhoun will be the operating shareholder.
She said she was excited about the new venture.
"I saw it as a good opportunity and just went for it. We have only made minor changes with the menu, but we will be focusing on the good coffee and good service that Joe's is famous for."
She has returned to Queenstown after four and a-half years away.
"I lived here for five years, working at the Lone Star, so I grabbed the chance to come back and manage the mother ship of Joe's," Ms Colquhoun said.
Joe's Garage, in Searle Lane, was formerly owned by Arrowtown entrepreneur Michael Hill's daughter Emma and partner Doug Jacques.
Michael Hill and Queenstown developer John Martin still own the franchise rights to Joe's Garage.
There are four cafes in the franchise: in Queenstown, Christchurch, Sumner, and Wellington.
The Arrowtown Joe's Garage is not part of the franchise.
Mr Jacques said Ms Hill had taken over the Queenstown cafe in April 2008, which was established by Matt and Kath Hannah in 2000. but had not intended to run it long term.
"She wanted to be part of the franchise to get a better understanding of the business and to position Queenstown for the continued success of the franchise. We renovated it and worked out kinks from a franchise perspective and now we have found excellent operators to take it over."
