CVT
02/03/2016 08:31
JOINTV
PRICE SENSITIVE
REL: 0831 HRS Comvita Limited
JOINTV: CVT: Comvita and Capilano Collaborate in Australian Apiaries
Global natural health products company Comvita (NZX:CVT) and Australia's
leading honey marketer Capilano Honey Limited (ASX:CZZ) are pleased to
announce that a Memorandum of Understanding to form a new, jointly-owned
apiary business has been signed. The new business intends to operate a
number of Leptospermum honey producing apiary businesses in Australia, to
deliver premium honey for a range of medical and natural health products.
The incorporated joint venture to be formed will be owned 50:50 by Comvita
and Capilano.
Within their respective countries, Comvita and Capilano each market honey and
manage apiary operations that produce Leptospermum honey. Capilano wishes to
expand its specialised Leptospermum apiary operation in Australia and secure
greater honey supply. Comvita currently operates in Australia in a sales and
marketing capacity and this joint venture will secure greater volumes of
Leptospermum honey to be processed in Australia, to meet a growing global
sales demand.
Comvita and Capilano have already been involved in a joint research
initiative to investigate the medicinal properties of Australian Leptospermum
honey. In order to best satisfy growing sales, both companies recognise the
need to expand their operations and grow the supply base for premium quality
honey, especially in Australia. Both businesses believe they will achieve
significant long term benefits by working together.
The formation of the joint venture is subject to the execution of appropriate
transaction documentation that is to be expeditiously agreed by both parties.
Ends
For further information:
Scott Coulter, Comvita CEO - 021 386 988
Neil Craig, Comvita Chairman - 021 731 509
Julie Chadwick, Comvita Communications Manager - 021 510 693
About Comvita (www.comvita.co.nz)
Comvita (NZX:CVT) is a global, natural health company committed to the
development of innovative products, backed by ongoing investment in
scientific research. We are the world leaders in Manuka honey and
fresh-picked Olive Leaf Extract, which are at the core of the Comvita product
range.
We have approximately 50% of honey supply under direct ownership or control,
with the balance of supply from long term contractual and partnership
arrangements. Comvita pioneered the development and use of medical grade
Manuka honey and was the first to receive FDA approval (2007). We partner
with US wound care company Derma Sciences, Inc. (NASDAQ:DSCI), the global
licensee for Medihoney specialist wound care products, which are used in
hospitals and medical centres around the world. Comvita's freshly picked
Olive Leaf Extract is grown, harvested, extracted and bottled at the world's
largest specialised olive leaf grove.
Comvita sells into more than 18 countries through a network of our own
branded retail locations, online (seven country specific e-commerce websites)
and third-party outlets. We have over 500 staff located in New Zealand,
Australia, Hong Kong, Japan, South Korea, the United Kingdom and the USA.
About Capilano (www.capilano.com.au)
Capilano Honey Limited (ASX:CZZ) is Australia's leading honey marketer, with
manufacturing operations in the States of Queensland, Victoria and Western
Australia. The company's brands hold the largest market share in Australia,
whilst exporting to over 30 countries throughout the world.
End CA:00278633 For:CVT Type:JOINTV Time:2016-03-02 08:31:37
