Walter & Wild has bought the manufacturing assets of fellow New Zealand manufacturer Hansells Masterton out of receivership.
The acquisition, carried out through a new vehicle, Hansells Acquisition Limited (HAL) ensures “continuity for the facility” in the New Zealand town of Masterton, Walter & Wild said.
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Walter & Wild is a consumer foods business based in Auckland owned by New Zealand investor Harry Hart. The Hart family bought Hansells Food Group in 2018 when it formed Walter & Wild and sold the Hansells brand to Hansells Masterton five years later.
Hansells Masterton, which is a contract manufacturer but also owns brands including Horleys Sports Nutrition, went into receivership in April. A director reportedly said at the time the conditions that went with acquiring the Hansells brand could not be met.
The receivership process was managed by BDO Auckland. Partner Andrew McKay said the receiver had studied “multiple offers”.
“As receivers, our role was to assess all available options, this transaction represented the best outcome given the situation which had the added
benefit of minimising disruption to employees and the community,” McKay said in a statement announcing the deal.
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By GlobalDataAll employees have been offered positions within the new ownership structure, the statement read.
Walter & Wild CEO Harry Hart said the establishment of the new structure has created a “clean slate”.
“We can now focus on stability – supporting our team, serving customers, and proving that Hansells can remain a vital part of the Masterton community and New Zealand story for a long time to come,” Hart added.
Walter & Wild markets products under brands including Aunt Betty’s, Hubbards, Vitasport, and Vitafresh.
Isi Tupou, Walter & Wild’s COO, said: “We are excited to collaborate with our customers and suppliers to unlock this business’s full potential. With a strong track record of transforming businesses, this is what we do best. This opportunity aligns perfectly with our expertise.”
