Rangatira Investments Annual Report 2021 - Report - Page 23
Ra n g a t i ra An n u a l Re p ort 2021
Investment Date: 2017
OWNE R S HI P
Mrs Higgins produces a range of high-quality
oven-fresh bakery products including cookies,
ready to bake cookie dough and café slices.
Its products are available from leading distributors, through
food outlets, supermarkets, vending machines and convenience
stores throughout New Zealand, as well as exporting to leading
Mrs Higgins is a partnership between Rangatira and the
Hasler family. Rangatira’s investment in December 2017
positioned Mrs Higgins for growth. Mrs Higgins opened a
new manufacturing plant in 2018 to provide capacity to meet
potential demand for bakery products in New Zealand and
expand export sales.
Its major customers are food service distributors, route-trade
and supermarkets. As an essential business in food production,
the business was able to stay open during last year’s lockdown
and subsequent changes in Alert Levels in Auckland. Despite
weakness across the food service segment, Mrs Higgins
achieved strong growth in supermarket sales in FY21.
Investment Date: March 2008
PA ST U R E S
OWNE R S HI P
New Zealand Pastures is a farming and
fattening operation based on 23,500 ha of land
across three farms in the South Island.
As part of a recapitalisation in 2020, Rangatira, alongside
continuing shareholders, acquired the shares of majority owner
Duxton Asset Management (Singapore).
The Company plans to convert one of the farms to a pinus
radiata plantation to take advantage of the rising price of
carbon credits under the Emissions Trading Scheme (ETS), with
planting expected to occur later this year.