Hart family business tips Hansells Masterton into receivership

Hansells Masterton has gone into receivership after facing global supply chain challenges. Photo / Lynda Feringa

A company owned by the Hart family – one of the richest families in New Zealand – has tipped Hansells Masterton into receivership.

Walter and Wild Ltd, as a secured debt holder, has appointed receivers Andrew McKay and Rees Logan from BDO.

Hansells Masterton is a contract manufacturer which also owns the Horley’s brand and licence for the Hansells brand.

Hansells describes itself as “an iconic New Zealand brand that’s been in kiwi kitchens for 75 years”.

Its products include Thriftee juice concentrates, soup mix brand King, liquid sweetener Sucaryl and common pantry items like vanilla essence, tartaric acid, black pepper and curry powder.

The company is also involved in producing milk powder for the export market.

Hansells Masterton’s sole director is Alan Stewart, who is also the largest shareholder in the company.

Australian company Dr Oetker Queen Australia owns 15.24% of Hansells Masterton.

Dr Oetker Queen Australia makes frozen pizzas.

Isi Tupou, the chief operating officer at Walter & Wild, said it had worked with Hansells for a very long time.

“They have contract-manufactured a range of our products over time.

“Like many businesses in NZ, it has been affected by the current economic downturn and continued global supply chain challenges,” Tupou said.

“We will support the appointed receiver, BDO, as they explore various avenues for the business, its employees and other stakeholders.”

The Hansells brand was purchased in 2018 as part of the set of acquisitions that formed Walter and Wild.

The Hansells business was then sold to Hansells Masterton in 2023.

Hansells Masterton is a separate entity and is not a subsidiary of Walter & Wild. It employs around 100 staff.

Walter and Wild Holdings is the ultimate shareholding company of Walter & Wild which is 67% owned by Graeme Hart and 33% owned by Harrison Hart.

Graeme Hart’s net worth was valued at $12.1 billion in the 2024 NBR rich list.

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.