It will be business as usual at Kerikeri's multimillion dollar natural skincare business Living Nature following the entry of a new majority shareholder.
Health and wellness products manufacturer and exporter New Image Group has bought a 50.01 per cent shareholding in the Kerikeri-based company and the two parties say it is a
match made in heaven.
The deal was announced at New Image Group's annual meeting in Auckland late last week.
The controlling interest was acquired by injection of new capital. The other shareholders in this jewel of the Northland's manufacturing scene remain the same - long-time investors, Aucklanders Bill Birnie and Peter Evans. Graeme Clegg, New Image's executive chair, and Alan Stewart, deputy chair, will join the Living Nature board.
Both parties are emphatic that Living Nature will continue to operate as an independent stand-alone operation. This includes selling through its traditional distribution channels, as opposed to New Image's direct selling (non retail selling, by individuals). New Image only uses traditional distribution methods for sales of its milk powder and infant formula products.
Alan Stewart, New Image deputy chair, says the buy-in will give Living Nature new impetus and the backing of a publicly-listed company that has exported New Zealand goods worth more than $179 million in its past two financial years.
The shareholding would also provide the Kerikeri company with wider access to markets in Asia through the distribution channels for milk powder and infant formula products.
He said his company's team was keen to work with the management at Living Nature to develop existing synergies, and to help maximise employment opportunities.
Living Nature's internationally certified manufacturing plant would be very useful for the production of his company's own colostrum-based Bio-Rejuv skincare range. The Kerikeri company would be developing a new Bio Rejuv range and have access to the New Image Group seven-strong scientific team.
Living Nature marketing manager Jodi Bews-Hair said last Friday the New Image investment was "an absolutely fantastic opportunity for us".
"Nothing will change in terms of how we operate. And it confirms our position and strengthens our ability to work towards our clear and strong goal of being the world's most safe and effective skincare".
