Nestlé has confirmed the sale of New Zealand business Egmont Honey to Beijing-based Huatai International Private Equity Fund.
Set up in 2015, Egmont Honey manufactures table Manuka honey, honey-based lollipops and lozenges, as well as flavoured honey spreads such as dulce de leche, creamed honey and raspberry and creamed honey and passionfruit.
Nestlé acquired Egmont Honey two years ago. Asked to explain why it sold the brand, the Swiss giant provided a brief statement.
“We have divested the Egmont Honey business as it was no longer a strategic fit for our business. Egmont Honey, which we acquired with our acquisition of The Better Health Company in 2022, is the fastest-growing manuka honey company globally and has had impressive growth over the past two years. We wish Egmont Honey all the best for future growth and success.”
Set up in 2015, Egmont Honey manufactures table Manuka honey, honey-based lollipops and lozenges, as well as flavoured honey spreads such as dulce de leche, creamed honey and raspberry and creamed honey and passionfruit.
The brand exports to retailers globally, including Costco and Walmart in the US, Holland & Barrett and Ocado in the UK, Aldi in Europe, Coles in Australia, Hyundai in South Korea, Life Pharmacy in the UAE, and Woolworths in New Zealand, among others.
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By GlobalData
The Better Health Company’s Go Healthy supplements were also included in the deal, as was an Auckland-headquartered contract manufacturing facility for vitamins, minerals and supplements.
The business was bought from Chinese asset-management group CDH Investments and The Better Health Company’s founding investors. CDH had held a majority stake in the company since 2016.
At the time of the acquisition, Jennifer Chappell, CEO of Nestlé’s New Zealand arm said the brands would “strengthen our presence” both nationally and internationally.
Paul Bruhn, head of Nestlé’s Oceania branch also said that both products “complement our global portfolio of active lifestyle and health-and-wellness nutrition brands very well”.
