Adamantem Capital (Adamantem), a boutique Australian private equity firm, will invest in iconic New Zealand premier sausage, bacon and ham manufacturer Hellers Limited (Hellers) alongside founder Todd Heller.

The partnership with Adamantem gives Hellers the opportunity to accelerate its growth strategy with a well capitalised, strategic and experienced trans-Tasman capital partner.

John McWhirter the CEO of Hellers says, “We are delighted at the prospect of having Adamantem Capital on board as our new majority owner. Adamantem brings a wealth of knowledge, which will help us to scale-up, continue to invest in innovative new products and add further value to our customers.

“Our partnership with Adamantem will help fund the continued growth of Moira Mac’s, a business recently acquired by Hellers in Australia.

“Our founder Todd Heller will remain a shareholder in the business as we start this exciting new chapter, and so it will remain business as usual.”

Founder Todd Heller says he is proud of the growth Hellers has achieved over the past 33 years by strategically choosing the right capital partners to support the expansion of the company.

“It has been a wonderful and successful relationship with Rangatira, which has been marked by many milestones from our Auckland factory built in 2005 through to a world class production facility established in Kaiapoi in 2011. Rangatira was pivotal in our growth including acquisitions such as Hutton’s Kiwi, Santa Rosa poultry, Gramart sauces and Walsh’s meats.”

“As we move into this next phase of growth, I look forward to working with Adamantem to further build on our success by exploring new channels and new categories. Following our recent acquisition of Moira Mac’s in Australia, I believe there are also many growth opportunities we can explore from this platform.”

David Pilkington, Chairman of Rangatira Investments, says the proposed sale marks an exciting new era in the Hellers story.

“We have been proud to have been investors and supporters of Todd Heller and the Hellers brand for the last 15 years. Our long association with Hellers has been rewarding and successful and as Hellers is entering into its next phase of growth, it is now the right time to hand over the reins to Adamantem Capital to guide the business forward.”

Angus Stuart, Managing Director of Adamantem says: “Hellers is an iconic business with a strong market position and excellent reputation as a premier smallgoods manufacturer of sausage, bacon and ham products across New Zealand and Australia.  We look forward to working with Todd, John and the entire Hellers team to help expand the business into new categories and new markets.”

The sale of Hellers to Adamantem Capital is conditional on OIO approval in New Zealand and FIRB approval in Australia.

ENDS

For further information please contact:

Julien Leys, SenateSHJ, Mobile +64 21 655 598

About Adamantem Capital

Adamantem Capital raised its first private equity fund in 2017. So far it has partnered with founders and management teams through investments in: Heritage Life care, a NZ residential aged care provider; Hygain, a premium horse feed manufacturer; and Servian, a boutique data analytics IT services company. Adamantem recently announced an agreed deal to privatise Zenitas, a rapidly growing home care and allied healthcare provider.