Paengaroa based health products company Comvita has signed a $12m sale and purchase agreement with New Zealand Honey Ltd.
Comvita announced this morning it will acquire all the shares of New Zealand Honey Ltd from New Zealand Honey Producers Co-operative Ltd.
The acquisition comprises all of the assets of the
Company, including land and honey processing assets in Timaru, honey inventory at settlement and a long term honey supply agreement with New Zealand Honey Producers Co-operative Ltd.
Total sales in 2013 for New Zealand Honey Ltd were $27.3 million.
It produces and sells products under well-known brands Hollands Honey, 3 Bees and Sweet Meadow and is one of the largest exporters of New Zealand honey products.
