Walter and Wild have entered into a conditional purchase of the assets agreement with I Love Food Co. The acquisition price is being kept confidential with the sale process expected to be completed by the beginning of next month. Co-founders Maree Glading and Jessie Stanley will continue to work with the brand, choosing to take up new roles at Walter and Wild.
“This acquisition is about much more than a portfolio of delicious pies and cookies made from real ingredients. It’s also about infusing I Love Food Co’s authenticity, innovation and deep connection to the consumer into Walter and Wild’s DNA. It's something we are incredibly excited about,” said Walter and Wild CEO Harry Hart.
Ms Glading said that she was looking forward to being part of the Walter and Wild team. “We see enormous potential for the ‘I Love’ brand in our existing categories and across the broader Walter and Wild portfolio.”
“We have a strong ambition to further grow the brand to its full potential and with Walter and Wild we will be able to achieve this,” added Jessie Stanley.
I Love Food Co has popular brands I Love Pies, and I Love Baking under its name all of which are stocked in supermarkets nationwide and export to Asia and the Pacific. The sale will ensure that I Love Food Co will remain New Zealand owned.
Walter and Wild’s is a new force in the New Zealand food manufacturing sector which was formed earlier this year following the purchasing of some of New Zealand’s most iconic brands. So far the Walter and Wild brand portfolio includes; Alfa One, Aunt Betty’s, Greggs, Hansells, Hubbards, Thriftee, Teza and Vitafresh.