Conditional sale of I Love Food Co

18 October, 2018 by
FMCG Business
I Love Limited co-founders Maree Glading and Jessie Stanley.

Walter & Wild is on a mission to bring excitement and dynamism to the New Zealand food industry. Today they are pleased to announce that they have taken a bold step toward achieving that mission. The company has entered into a conditional purchase of the assets of I Love Limited, trading as I Love Food Co.

I Love Food Co.’s brands are I Love Pies and I Love Baking, which are stocked in supermarkets across New Zealand and exported to Asia and the Pacific.

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Walter & Wild CEO, Harry Hart says “This acquisition is about much more than a portfolio of delicious pies and cookies made from real ingredients. It’s also about infusing I Love Food Co’s authenticity, innovation and deep connection to the consumer into Walter & Wild’s DNA. That’s something to be incredibly excited about.”

I Love Limited co-founders Maree Glading and Jessie Stanley will be taking up new roles at Walter & Wild. “Jessie and Maree’s success speaks for itself – they are two highly talented individuals. It’s a privilege to welcome them to the Walter & Wild family,” says Hart.

Glading says that Walter & Wild is a dynamic company with a broad FMCG portfolio and that they are looking forward to being part of the team. “We see an enormous potential for the ‘I Love’ brand in our existing product categories and across the broader Walter and Wild portfolio.”

Stanley says that since launching the I Love Pies brand ten years ago at the Clevedon Farmer’s Market, the company has gone on to be stocked in supermarkets across New Zealand and exported further afield.

“Our focus has always been on creating good food for busy families, with real ingredients, and we will continue to do this. As we reflect back on our journey so far, we’d like to thank everyone who supported us right from the start. We can’t wait to bring you more beautiful food in this next phase of our development. We have a strong ambition to further grow the ‘I Love’ brands to their full potential and with Walter & Wild we will be able to achieve this.”

Walter and Wild’s brands include Alfa One, Aunt Betty’s, Greggs, Hansells, Hubbards, Thriftee, Teza and Vitafresh.

The sale to a New Zealand-owned company means I Love Food Co. will continue to be locally owned. The sale price is confidential and I Love Food Co. expects the sale process to be complete by the beginning of next month.

Walter and Wild is a private company owned by Graeme and Harry Hart.