Harts buy icecream company

Walter & Wild, the food group owned by rich lister Graeme Hart and son Harry, has bought icecream company Emerald Foods Group, returning it to Kiwi ownership.

The purchase, for an undisclosed sum, was finalised yesterday, Harry Hart said in a statement.

The Harts have been building up a major consumer foods business, having acquired Hubbard Foods, Hansells Food Group, Greggs, and I Love Food. The purchase of Emerald Foods brings the icecream maker back under local ownership after businesswoman Diane Foreman sold it to a Hong Kong group in 2015.

‘‘This is a major acquisition for our business and an avenue into an attractive growth sector of the fastmoving consumer goods, foodservice and retail markets,’’ Harry Hart said. ‘‘It is a good news story, bringing a New Zealandfounded business with well-loved brands back into New Zealand ownership.’’

The purchase expanded Walter & Wild’s range to more than

500 products, reaching consumers from breakfast to dessert, Hart said.

The icecream company’s brands include New Zealand Natural, Killinchy Gold, Zilch and Chateau, and it also operates Movenpick under licence in New Zealand.