Intersnack's cost-generating unit (CGU) recognised an impairment of $52.75m in respect of goodwill and a further $7.25m impairment in relation to its brand assets.

It's the second year in a row the business has reported an impairment to its brands, with a $20.7m impairment reported in its 2024 full-year results.

Brands owned by Griffin's Snacks include Griffin's Biscuits; chip brands Eta, Snackachangi and Kettle; as well as the muesli brand Nice & Natural.

Including the impairments, Intersnack reported a net loss for the 2025 full year of $59.2m. Had the impairment not been recorded, the company would have reported a net profit.

Eta Snackachangi and Kettle

Griffin's New Zealand declined to comment on the result.

Earlier this year, Griffin's Snacks faced backlash from its customers after it decided to drop its Cookie Bear mascot from its packaging, 57 years after it was introduced.

Cookie Bear was developed by Hudson's, which created the bow-tie-sporting bear for its biscuit range in 1968.

Hudson's was eventually sold to Griffin's in 1989, before Griffin's was acquired by global giant Intersnack in August 2021.

Griffin Snacks

The company continued to use Cookie Bear on its biscuit packaging and in marketing despite the changes of ownership.

In April 2025, Griffin's told the Herald at the time that the redesign would shift focus towards the brand and appeal "to a wider range of Kiwi biscuit lovers".

"While the packaging is changing for our Chockie Chippies, Hundreds & Thousands, Stripes and Shrewsbury biscuits, consumers can expect the same quality, recipe and great taste," the company said.

However, the decision was met with a wave of backlash from its customers, and after months of campaigning, Griffin's reinstated the mascot.

Thousands Stripes and Shrewsbury

In September 2025, Griffin's Snacks also proposed the closure of its Proper Crisps factory in Nelson.

A spokesperson for the company said it told staff in Nelson and Wellington of a proposal to consolidate all savoury snack manufacturing at its Wiri site in South Auckland. It said its Papakura site would not be affected.

"If the proposal goes ahead, 82 roles across Nelson and Wellington could be affected, with production potentially moving to Wiri from late 2027 and into early 2028," the spokesperson said.

"This transition would be supported by significant investment in the Wiri site, including the creation of new roles."

Nelson and Wellington

The company has provided no additional updates on the proposal since last year.

Griffin's was founded in Nelson in 1864. Griffin's is ultimately owned by Netherlands company Intersnack International B.V.

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.

to a wider range of Kiwi biscuit lovers

The wider picture

Novelty sells the first bag. Whatever is inside it decides whether there is a second.

What to remember

  • Intersnack's cost-generating unit (CGU) recognised an impairment of $52.75m in respect of goodwill and a further $7.25m impairment in relation to its brand assets
  • Brands owned by Griffin's Snacks include Griffin's Biscuits; chip brands Eta, Snackachangi and Kettle; as well as the muesli brand Nice & Natural
  • Earlier this year, Griffin's Snacks faced backlash from its customers after it decided to drop its Cookie Bear mascot from its packaging, 57 years after it was introduced
  • Cookie Bear was developed by Hudson's, which created the bow-tie-sporting bear for its biscuit range in 1968
  • Hudson's was eventually sold to Griffin's in 1989, before Griffin's was acquired by global giant Intersnack in August 2021

Figures worth noting

  • It's the second year in a row the business has reported an impairment to its brands, with a $20.7m impairment reported in its 2024 full-year results
  • Including the impairments, Intersnack reported a net loss for the 2025 full year of $59.2m
  • In April 2025, Griffin's told the Herald at the time that the redesign would shift focus towards the brand and appeal "to a wider range of Kiwi biscuit lovers"
  • In September 2025, Griffin's Snacks also proposed the closure of its Proper Crisps factory in Nelson
  • "If the proposal goes ahead, 82 roles across Nelson and Wellington could be affected, with production potentially moving to Wiri from late 2027 and into early 2028," the spokesperson said

Common questions

What should you know about Nelson and Wellington?

A spokesperson for the company said it told staff in Nelson and Wellington of a proposal to consolidate all savoury snack manufacturing at its Wiri site in South Auckland.

Why does it matter?

"This transition would be supported by significant investment in the Wiri site, including the creation of new roles.".

In short

As always in the snack aisle, the gap between what gets announced and what actually reaches people is where the real story will be decided.