Walter & Wild has successfully acquired the manufacturing assets of fellow New Zealand manufacturer Hansells Masterton, rescuing it from receivership.
This acquisition, conducted through a newly established entity, Hansells Acquisition Limited (HAL), ensures essential continuity for the facility located in Masterton, New Zealand, as stated by Walter & Wild.
Based in Auckland, Walter & Wild is a prominent consumer foods business owned by New Zealand investor Harry Hart. Notably, the Hart family purchased Hansells Food Group in 2018, which led to the formation of Walter & Wild and the subsequent sale of the Hansells brand to Hansells Masterton five years later.
Hansells Masterton, a contract manufacturer that also owns brands such as Horleys Sports Nutrition, entered receivership in April. A director previously indicated that the conditions associated with acquiring the Hansells brand could not be met.
The receivership was managed by BDO Auckland. Partner Andrew McKay explained that the receiver evaluated “multiple offers” during the process.
McKay noted, “As receivers, our role was to assess all available options. This transaction represented the best outcome given the situation, which also minimized disruption for employees and the local community.”
All employees have been extended offers for positions within the newly structured ownership, according to the statement.
Walter & Wild CEO, Harry Hart, stated that the establishment of the new structure has resulted in a “clean slate.”
He emphasized, “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.”
Walter & Wild markets its products under several well-known brands, including Aunt Betty’s, Hubbards, Vitasport, and Vitafresh.
Isi Tupou, Walter & Wild’s COO, expressed excitement about the future: “We are eager to collaborate with our customers and suppliers to unlock this business’s full potential. With a strong track record of transforming businesses, this opportunity aligns perfectly with our expertise.”
