- Release Date: 02/10/12 11:30
- Summary: ASSET: CVT: Comvita Acquires Whanganui Honey Supply Business
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CVT 02/10/2012 08:30 ASSET REL: 0830 HRS Comvita Limited ASSET: CVT: Comvita Acquires Whanganui Honey Supply Business Global natural health and beauty products company Comvita has acquired the apiary business of Whanganui-based Kiwi Honey Limited to strengthen its supply of Manuka (Leptospermum) honey. Kiwi Honey Limited has 3,500 beehives located throughout the Whanganui region. Comvita Chief Executive Brett Hewlett said the business will provide Comvita with additional security of supply of Manuka honey and will become the fourth* 100%-owned apiary business for Comvita. The company already owns apiary businesses in the key geographic regions of Northland, Waikato and Wairarapa. "Having a presence in the Whanganui region is strategically important as this area is renowned for its production of UMF honey." Mr Hewlett said Kiwi Honey's owner Paul Sergent had been a valued supplier of high quality Manuka honey to Comvita for over 20 years. "We're privileged to be given the opportunity to continue the proud legacy Mr Sergent has built up in the Whanganui region." "We're looking forward to meeting our new land owner partners and building a strong and enduring relationship into the future. We believe this apiary business has significant potential to grow and expand in the region and will benefit from Comvita's substantial resources in Manuka honey production." "The acquisition of strategically located apiary businesses has been important to Comvita in providing supply surety and meeting the rapidly growing global demand for our high quality, value-add products," said Mr Hewlett. "In the coming season, we anticipate approximately a third of our honey will be sourced from Comvita owned apiaries. Our policy on honey supply remains one of supporting our loyal beekeeper supply partners and sourcing the majority of our Manuka honey requirements through these long-standing relationships." To ensure the supply of Manuka honey Comvita has undertaken the development of elite Manuka strains and agronomic studies for reforestation of marginal land. Other initiatives include the development of beneficially economic relationships between land owners and beekeepers; the development of industry standards and operating best practices to ensure consistency of quality and compliance with international regulations; constant improvement of hive management methods to improve yields and honey quality; and training of beekeepers to build capacity within the industry. These initiatives are all made available to our beekeeper supply partners. "The acquisition of Kiwi Honey Limited's apiary business will further enhance Comvita's leadership in the Manuka honey industry." The acquisition was completed last week and the purchase price is confidential. *Comvita acquired Waikato Honey Products in November 2011 and Kiwibee Medical Ltd in June 2008. KiwiBee Wairarapa was established as an operating unit in December 2011. # Ends # For further information: Comvita CEO, Brett Hewlett, 021 740 160 Comvita Chairman, Neil Craig, 021 731 509 Comvita Communications Manager, Julie Chadwick, 021 510 693 Background information About Comvita (www.comvita.co.nz) Comvita is an international natural health and beauty products company with a strong New Zealand heritage. We are committed to the development of innovative natural health and wellbeing products, backed by credible scientific research. We develop and manufacture products in the categories of Health Care, Personal Care (Skincare and Wound Care) and Functional Foods (Health Foods). Manuka (leptospermum) honey is at the core of the Comvita product range and we are the largest manufacturer and marketer of this uniquely New Zealand resource. We sell into more than 18 countries through a network of wholesale and third-party outlets, more than 470 branded retail outlets throughout Asia - including 400 stores in 40 cities in mainland China and online. We have offices in New Zealand, Australia, Hong Kong, Japan, Taiwan, South Korea and the United Kingdom End CA:00228002 For:CVT Type:ASSET Time:2012-10-02 08:30:21
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