In an NZX statement, Capilano said it wished to expand its specialised Leptospermum apiary operation in Australia and secure greater honey supply. Comvita, which currently has sales and marketing operations in Australia, said the new venture would allow it to secure greater volumes of Leptospermum to meet demand.
The two companies have already been involved in a joint research initiative to investigate the medicinal properties of Australia 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 honey, especially in Australia," the NZX statement said.