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Raine & Horne acquires Mike Pero Real Estate in New Zealand

With a special note on the use of the Ampersand

Liberty NZ and Mike Pero Group Chief Executive Aaron Skilton with Raine & Horne Chief Executive Angus Raine after signing the Acquisition Agreement (Photo Supplied)

Venkat Raman
Auckland, December 19, 2023

Australian Real Estate giant Raine & Horne has announced the acquisition of Mike Pero Real Estate network of New Zealand for an undisclosed sum.

Raine & Horne Executive Chairman Angus Raine said that the company will be rebranded with the Australian name following a strategic partnership agreement.

The official transition will commence early in the New Year and the Company’s Head Office will be in Christchurch, the traditional home of Mike Pero.

Mike Pero will focus on its core financial services through its Mike Pero Mortgages.

About Raine & Horne

Raine & Horne is stated to be one of the oldest continuously operating family companies in the Southern Hemisphere. It has over 350 offices worldwide, including New Zealand, Australia, Asia, the South Pacific, India and the Middle East.

Established in 1883, the A$ 9 billion Company manages more than 130,000 properties all over the world. In India, the Company has an office in Bengaluru (Bangalore) and two offices in Goa (Panjim and Bambolim).

Mr Horne, who represents the fourth generation of his family, said that Raine & Horne entered the New Zealand market in early 2023 and has a network of 13 offices. The acquisition of the Mike Pero Real Estate network will boost its presence to 68 offices.

“Mike Pero Real Estate is a strong heritage business, like Raine & Horne, made up of passionate owners and agents who we look forward to serving, developing and growing as we have done in the gold and charcoal successfully for decades worldwide,” he said.

He said that the Mike Pero Real Estate network, comprising 55 franchisees and 120 licensed real estate agents, will be rebranded as Raine & Horne.

An affair with the Ampersand (From the Raine & Horne Brochure)

A good Trans-Tasman Venture

“The purchase and ongoing strategic partnership aims to leverage the collective strengths of both businesses, with Raine & Horne working exclusively with Mike Pero Mortgages to deliver financial service solutions to its customers in New Zealand,” he said.

He said that the similarity of the real estate business on either side of the Tasman and the close ties between the two countries encouraged his company to venture into the New Zealand market.

“There is a notable alignment in our agency practices, paving the way for our successful expansion. As leaders in real estate franchising, we take pride in offering unparalleled support to our offices. Our unique value proposition, a trusted brand with a growing global presence and a cutting-edge technology ecosystem, positions us favourably,” he said.

Game-changing technology

Mr Horne said that his Company has been a big innovator in property technology.

“Our game-changing Artificial Intelligence (AI) and social media marketing technology Amplify have been popular among our offices and their clients, while our appraisal platform, DigiKitPlus, is attracting an influx of new offices into our network,” he said.

According to Mr Horne, the property market is showing healthy signs and the demand for major real estate brands is evident.

“With each of our current 13 offices all rebranding from rival networks, there is significant appetite for an alternative brand with the size, technology, heritage and capability to drive growth,” he said.

Liberty in New Zealand and Mike Pero Real Estate Chief Executive Aaron Skilton described the sale as a ‘win-win for everyone involved.’

“Being part of a heritage real estate business with the scale, expertise and capability of Raine & Horne represents an incredible opportunity for our business owners, agents – and ultimately Kiwi clients. While the Mike Pero Real Estate network will undergo a name and ownership change, our iconic Kiwi brand will continue through Mike Pero Mortgages, with the two businesses (Mike Pero Mortgages and Raine & Horne) working closely together to leverage the core capabilities of what each of us do best,” he said.

About the Ampersand

Meaning ‘and,’ the cursive Ampersand we know today dates back to the 1st century AD.

It was discovered as graffiti in Pompeii, preserved by the eruption of Vesuvius in 79 AD. Writing the word this way saves the writer time, with one letter flowing seamlessly into the next, a form of cursive or joined-up writing.

The Ampersand is called upon to aid in the joining together of multiple visions, ideas and people. It is a common way for businesses to form a fitting name and identity, these include Johnson & Johnson, Raine & Horne and Tiffany & Co as well as abbreviations containing words such as R&B (rhythm and blues), B&B (bed and breakfast), and P&L (profit and loss).

A cornerstone of the Raine & Horne name and brand, the Ampersand was employed back in 1883 to bring together the names of the Company’s founders Tom Raine and Joseph Horne. Since then, the Ampersand has remained a core element of the Raine & Horne identity. The symbol represents the coming together of its diverse customer base and the many individuals that make up its strong and united network.

The Raine & Horne Ampersand was tailored explicitly in its own unique typeface, and its official font is also a registered trademark.

Source: Raine & Horne Website

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