Owner of Egmont Honey up for sale

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The company which owns award-winning Taranaki manuka honey business Egmont Honey is being offered for sale.

Egmont Honey was founded by South Taranaki father and son Toby and James Annabell in 2015 with just one beehive, and now has about 3500 hives in Taranaki and exports to 20 countries.

In August 2020, The Better Health Company, which already held a 51 per cent share, took over ownership of Egmont Honey.

James and Toby, and Toby's wife, Karen, took a small shareholding in that company, the National Business Review reported.

The Australian Financial Review has reported that The Better Health Company’s owner, Asian private equity firm CDH Investments, is now seeking a buyer for the trans-Tasman vitamins, supplements and manuka honey brand company.

It said The Better Health Company, whose brands include vitamin label GO Healthy and Egmont Honey, would record $NZ137 million revenue and $NZ30 million EBITDA (earnings before interest, taxes, depreciation, and amortization) in the year to March 31.

Egmont Honey CEO James Annabell declined to comment on the sale, but said Egmont Honey revenue this year will be in excess of $41m.

“We are very proud of the fact we have grown so fast over the last five years. We now employ 57 people in Taranaki,” he said.

 
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Reactions: Alastair
62
47
New Zealand
Experience
International
This could be a good strategic fit for Manuka Health? I think though you would want to do a very deep dive under the bonnet and kick the tyres before you parted with any cash on this one. Also looks to be a very discount/promo orientated business and brand model so you need to be sure that fits with the long term direction of the supplementary health market.
 
21
12
New Zealand
Experience
Commercial
They have a tendency to bend the truth a bit
When they sponsored the Taranaki rugby team the CEO claimed they were 100% local, but when the company records were viewed they had 51% overseas ownership. About 1 year ago they started talking that they were working together with the overseas owner, glossing over the fact about ownership.
 

frazzledfozzle

Founder Member
9,010
7,830
Nelson/Tasman District
Experience
Commercial
Why do you expect price stability when there is no volume or grade stability from one season to the next. Prices fluctuate. That is agriculture. There is excellent value and volume growth in international markets.
at $4kg for mono to the beekeeper I’m sure the value and volume growth to the packer has gone through the roof !

The beekeepers have had good prices for a few years I guess it’s the packers turn to make a killing :)
 
  • Agree
Reactions: Gino de Graaf


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