Global natural health products company Comvita Limited (NZX:CVT) confirms the
formation of the joint venture with Capilano Honey Limited (ASX:CZZ) in
Medibee Apiaries Pty Limited, as announced on 02 March 2016, is now complete.
Capilano''s Manuka beekeeping assets were sold to the 50/50 joint venture
company for $AUD 9.225m. As previously outlined, the new business intends to
operate a number of Leptospermum honey producing apiaries in Australia, to
deliver premium honey for a range of medical and natural health products.
Ends
For further information:
Comvita Chairman, Neil Craig, 021 731 509
Comvita CEO, Scott Coulter, 021 386 988
Comvita Communications Manager, Julie Chadwick, 021 510 693
Background information
About Comvita (www.comvita.com)
Comvita (NZX:CVT) is a global natural health products company committed to
the development of innovative products, backed by ongoing investment in
scientific research.
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:00286899 For:CVT Type:JOINTV Time:2016-08-09 09:05:06