The manufacturing operations of Hansells will remain in Masterton under new ownership following an independent receivership process managed by BDO Auckland.
The assets have been acquired by Hansells Acquisition Limited (HAL), a newly formed entity owned by Walter & Wild, ensuring continuity for the historic facility, its Masterton employees and their families.
This transaction followed the difficult but necessary decision earlier this year to place Hansells Masterton Limited into receivership to address unsustainable financial challenges.
Multiple bids were evaluated, including those from offshore interests.
“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,” said Andrew McKay from BDO Auckland.
“The receivers would like to thank the employees for all their hard work during the receivership as well as acknowledge the support of customers, suppliers and financiers as continued trading without their collective support would not have been possible."
Walter & Wild COO Isi Tupou was excited to collaborate with its customers and suppliers to unlock the business' full potential. He said with a strong track record of transforming businesses, this is what they do best and that the opportunity aligned perfectly with their expertise.
Walter & Wild is known for reinvigorating many of New Zealand’s favourite heritage brands and household names in the FMCG sector. This new chapter represents a commitment to the community while implementing a restructured financial foundation that offers certainty to workers and their families.
“By establishing this new structure, we’ve created a clean slate - one that allows us to honour this iconic brand’s legacy while ensuring it operates on a sustainable footing. We know this process has, of course, been difficult for all involved,” said Harry Hart, Walter & Wild CEO.
“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.”
Masterton Mayor Gary Caffell, who had previously said that he was gutted to hear the news about Hansells going into receivership in April, added that he was pleased to say that Walter & Wild have found a way to keep the Hansells name and factory in Masterton.
Hansells has been an integral part of the local community since 1934, and he would love to see it make its centenary.
The transaction has now been completed, with all employees offered roles under the new ownership structure. Operations are expected to continue without interruption, ensuring Masterton maintains this important manufacturing capability and local jobs are secured for the future.
The community can expect to see the Hansells brand continuing to contribute to Masterton's economy for years to come.
