Hansells has been bought by a subsidiary of the business which forced it into receivership. Photo: RNZ / Cole Eastham-Farrelly
Food manufacturer Hansells will remain operating in Masterton after it was bought by a subsidiary of the business which forced it into receivership.
Hansells went into receivership in April.
At the time, its director said that was because it could not meet conditions that came with purchasing the Hansells brand from Walter and Wild.
In a statement on Tuesday, Walter and Wild said it had acquired the business under its new entity Hansells Acquisition Limited.
It said the move will allow the operations to continue in the Wairarapa town.
The receivership process has been managed by BDO Auckland.
"This transaction represented the best outcome given the situation which had the added benefit of minimising disruption to employees and the community," Andrew McKay from BDO Auckland said.
Walter and Wild chief executive Harry Hart said the deal involved a a restructured financial foundation that "offers certainty to workers and their families".
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