The Hurst family moved into the aged-care business after farming in North Otago and South Canterbury for five generations.
Brothers Doug and Ian Hurst hatched the idea back in 1982 with Geoff McPhail and Terry Pratley.
In partnership they formed Hurst Lifecare, which developed facilities in both the North and South islands. Three of its properties – Strathallan Lifecare (Timaru), Mary Doyle Lifecare (Hawke’s Bay) and 50% of Village At The Park (Wellington) – were acquired by the NZX-listed listed company Arvida in a $106 million shares and cash deal last year.
Another Hurst property, Rhodes on Cashmere, was sold to Arvida as part of its initial public offering. Since its listing, Arvida has bought 11 retirement villages and it has 29 villages worth worth $1.1 billion. Shareholders include former All Blacks Richie McCaw and Dan Carter.
Meanwhile, Hurst Lifecare is developing the Te Awa Retirement Village in Cambridge and is planning one in Mosgiel.
The Hursts have several investments at the other end of the care spectrum through a bunch of Little Wonders childcare centres in Oamaru, Timaru, Cromwell, Dunedin and Christchurch. Ian Hurst’s son Ben is a shareholder and director alongside his father and uncle.
He owns Little Wonders Management and is joint owner of the Auckland Little Wonders facility. Ian and daughter Sarah also own Penny Lane Childcare in Christchurch.
Doug and Ian have neighbouring farm properties on the Georgetown Pukeuri highway and Ian and Gloria live in a restored stone homestead that has been in the Hurst family since 1928. The brothers own about half of Oamaru’s North Otago Motors as well as property in Cromwell.
They also have a 50% stake in three Fuel Card businesses – Fuel To Go, NZ Fuel Services and Waitaki Fuel Services.