MA Financial, through its hospitality division Redcape, has announced the acquisition of the Republic Hospitality portfolio in Queenstown for the MA NZ Growth Fund. The acquisition, which is targeting settlement in the coming months, is the second investment for the approved Active Investor Plus (AIP) fund and marks a new chapter for one of Queenstown’s most established hospitality businesses.
The acquisition of the Republic portfolio is one of the first operating-business investments made under New Zealand’s AIP program, which has attracted over 500 applications since it opened in April 2025.
Since then, over NZ$3.16 billion has been committed to New Zealand by applicants.
Fund manager Christopher Swasbrook said: “When we launched the MA NZ Growth Fund in 2025, we committed to investing in and growing real businesses here in New Zealand. Our investment in the iconic Republic Hospitality portfolio reflects that focus. We look forward to continuing to back high-quality New Zealand operating businesses as we grow the Fund and deploy further capital.”
Republic Hospitality Portfolio
The transaction is an asset sale comprising 12 iconic venues, including Winnies, SODA, The Ballarat, Sundeck, Tommy’s, 1876 and the Frankton Arm Tavern, along with the Republic Hospitality Group brand and its experienced management team, who will continue to operate the business.
The Republic portfolio was founded in 2001 by Mike and Cordelia Burgess with the opening of Winnies. Over more than two decades, Republic has grown steadily into a portfolio employing around 200 staff across its venues and head office. The sale represents a natural transition point for the founders, who have spent more than 30 years in hospitality and are now ready to pass the baton.
Republic’s current CEO, Blair Impey, who joined the business in 2020 just prior to the COVID pandemic, will continue in his role and also join the board as Director alongside MA Financial Managing Director Chris Unger. The long-term senior leadership team will remain in place, providing continuity for staff, suppliers and customers.
Despite significant industry headwinds over recent years, Republic has delivered a strong growth story — unifying its venues under the Republic banner, developing new venues including SODA, Birdy and Tommy’s, and acquiring 1876 and Rhinos. With positive economic recovery anticipated in 2026 and Queenstown continuing its momentum as a global destination, the timing is well aligned for new investment and the next phase of growth.
Blair Impey, Republic’s CEO, said: “We’re incredibly proud of the business we’ve built and excited that MA Financial and their investors are keen to support the growth path we’re on.”
From an operational perspective, the transition will be seamless. Day-to-day operations, venue brands and leadership remain unchanged, with staff expected to experience continuity alongside increased support as part of a larger hospitality platform.
Redcape Hospitality operates 40 large-format pubs and taverns across the eastern seaboard of Australia and is owned by ASX-listed MA Financial, which has NZ$17.2 billion of assets under management globally, specialising in alternative real estate and credit.
Chris Unger, Managing Director of Redcape Hospitality, said: “Mike, Cordelia and the team led by Blair have built an incredible portfolio of venues in one of the world’s most amazing locations; it truly is irreplicable. As the hospitality-loving people that we are, we can’t wait to work with Blair and the team as we continue the Republic journey together. We have the pleasure of operating some of Australia’s most iconic venues in its most iconic locations, and these venues are right up there with them.”
MA Financial, through its AIP fund, plans to grow the portfolio and invest in the venues and people, leveraging their experience and expertise in hospitality to build on the strong foundations already in place.
