Rosella enters receivership

Food manufacturer, Gourmet Food Holdings, which owns the iconic Australian brand Rosella, has been placed into receivership.

Other than Rosella, which supplies soups, sauces and relishes, Gourmet Food Holdings' other businesses – now in the hands of receivers and managers  –  are Pitango, (based in Auckland, NZ and Seven Hills, Sydney) and Waterwheel (based in Dandenong, Victoria).

Ferrier Hodgson partners Steve Sherman, Jim Sarantinos and John Lindholm have been appointed receivers and managers.

A statement distributed by Ferrier Hodgson reads, "The receivership followed an extended period of support from the group’s secured creditor during which time the group had been working towards a sale. The receivership appointment was made by the secured creditor, following the appointment of voluntary administrators by the companies on Friday 30 November 2012."

According to Sherman, the receivers will now be undertaking an urgent assessment of the financial position of the group and will be talking with employees, customers and suppliers to determine whether or not operations can continue.

An expressions-of-interest campaign will be launched in the next 24 to 48 hours in an effort to identify potential buyers for the group or its individual businesses.

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