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The deal, which was announced in December 2023, helps Raine & Horne grow its New Zealand footprint to 70 offices.
The Australian megabrand’s acquisition of Mike Pero Real Estate from Liberty Financial Group became official on 28 March, bringing the New Zealand outfit’s 56 franchise offices to the fold.
The move comes just shy of a year after the network announced its launch in New Zealand, with four offices kicking off the brand’s initial presence on the North Island, before quickly growing the count to more than a dozen.
With the deal to acquire Mike Pero Real Estate turbocharging the brand’s expansion plans, Raine & Horne’s executive chairman, Angus Raine, said that the focus would now be on helping the new offices adjust to the change.
“We are honoured to welcome the Mike Pero Real Estate group into the Raine & Horne family. This acquisition not only expands our network’s footprint across both North and South Islands, but also reinforces our commitment to providing exceptional service and expertise to vendors, buyers, investors and tenants,” Raine said.
“We now begin the process of integrating Mike Pero Real Estate into our brand, and it’s fortuitous that the new offices will join us at a time when offices across our Australasian network are undergoing a brand refresh,” the executive chairman added, referring to a recent update to the brand’s familiar yellow visual identity.
With a brand refresh that the company is billing as “sleek and sophisticated” and its new, massive footprint in New Zealand, it would be hard to argue with the firm’s assertion that it is prepared to be nimble to stay at the top of the market.
“The rebrand is also a strategic move to attract top-tier talent to our offices in Australasia and reaffirm our commitment to continual evolution and progress,” Raine said.
“The acquisition of Mike Pero Real Estate underscores Raine & Horne’s dedication to growth and innovation, positioning our company as a dominant force in the Australasian real estate market,” he commented.
In fact, the firm considers its strategy of aggressive growth to be key in setting it apart from the competition. The brand also recently relaunched its efforts to establish a presence in Fiji.
“Our distinct value proposition lies in being a trusted brand with an expanding Australasian footprint,” Raine remarked.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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