Hansells sale price revealed
Graeme Hart and son Harry bought Hansells in June along with Hubbard Foods and Gregg’s Sauces.
NBR Rich Lister Graeme Hart and his son Harry paid about $15 million for Hansells Food Group, according to the company’s latest financial statements.
The Harts bought Hansells in June, along with Hubbard Foods and Gregg’s Sauces, which they rolled into a new vehicle Walter & Wild to form a local food group.
Top brands in the Walter & Wild portfolio include Aunt Betty's, Hansells, Vitafresh, Vitasport, Hubbards' muesli and cereals and Greggs table sauces.
Walter & Wild is 67% owned by Graeme Hart and 33% by Harry Hart.
Hansells' previous owners, including controlling shareholder Varapong Supachok, entered into an agreement to sell the company’s assets and liabilities for approximately $15m, accounts lodged with the Companies Office show.
Hansells recorded a loss of $20.26m for the year to March 2018, taking its accumulated losses to $66.5m. Revenue fell to $96m, down from $103.73m in 2017.
The assets for sale were valued at $39.3m at balance date while liabilities held for sale totalled $26.47m.
As part of the sale Walter & Wild has also taken a 25% stake in Hansells Masterton, a separate food manufacturing and packing specialist.
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Hansells sale price revealed
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