Hansells Masterton has been part of the local community for 75 years. Photo: RNZ / Cole Eastham-Farrelly
Masterton Mayor Gary Caffell is "gutted" to hear about 100 jobs could be on the line, as an iconic New Zealand food products business goes into liquidation.
Hansells Masterton has been tipped into receivership by a company owned by the Hart family, one of the country's wealthiest families.
Receivers BDO Auckland are urgently trying to find a new buyer for the business, which is known for products that include drink powders and syrups, King soup mix, Empire curry powder and black pepper.
Caffell said he felt for the staff and their families who faced uncertainty, and hoped a solution that kept jobs could be found.
Hansells Masterton had been part of the town's fabric for 75 years and he "was gutted to hear the news".
"Businesses like Hansell's are the backbone of our local economy and community," he said. "The company has provided jobs and stability for generations of Masterton families, producing iconic products that have been in Kiwi pantries for decades."
Caffell hoped the council would be kept up-to-date with developments, and pledged support for the business and staff employed there.
"We've got [council] staff here who are very well versed in economic development," he said. "I know we'd only be too happy to do what we can to help out, because we know just how important Hansells is to our community."
Hansells Masterton director Alan Stewart said he had supported the business to the best of his ability over the past 11 years to keep staff employed and the 90 year-old-brand alive, "but this has now been taken out of my hands".
"I feel sorry for the many long-serving staff, some who have worked in the company for over 40 years, and there are many who will have difficulty getting continued employment in Masterton."
Stewart said the receivers had arrived in Masterton and staff may learn more about their fate on Monday.
The trading environment had been difficult in recent years, with challenges exacerbated by the Covid pandemic, he said.
In 2018, Walter & Wild purchased the Hansells brand, which was then sold to Hansells Masterton in 2023.
Stewart said conditions that came with purchasing the Hansells brand from Walter & Wild could not be met and the Hansells Masterton had been placed into receivership.
BDO was appointed on Thursday, and said it would make a rapid assessment to identify and implement cost-saving measures to stabilise the company during the sale process.
BDO business restructuring partner Andrew McKay said Hansells Masterton had made trading losses and was insolvent. The business would continue to trade while a buyer was sought and he confirmed there had already been some interest.
If a buyer was not found, Hansells Masterton would be closed and the assets - including plant equipment, land and buildings - would be broken up and sold.
Walter & Wild chief operating officer Isi Tupou said, like many businesses, Hansells Masterton was affected by the economic downturn and challenges with the global supply chain.
He said Walter & Wild would support the receivers in their process.
