Masthead Limited Launches Florenz to Build & Export Portfolio of Leading New Zealand Brands Worldwide
July 08 2024 - 9:40AM
Business Wire
Market Expansion Led by Acquisition of
Wedderspoon Organic Group, Makers of Leading Manuka Honey Brand
Masthead Limited, the Christchurch-based investment firm, today
announced its acquisition of the Wedderspoon Organic Group, a
leading Manuka honey brand, and plans to consolidate its consumer
brand portfolio into a new holding company called Florenz. Mike Tod
will lead Florenz as chief executive officer.
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Wedderspoon offers a dynamic collection
of expertly crafted products that capture the lusciously rare and
powerful nature of genuine Manuka Honey, which is exclusively
produced by bees feeding off the Manuka bush on New Zealand’s North
and South Islands. From its use in the kitchen, in beauty and
active lifestyle self-care rituals and more, Wedderspoon Manuka
Honey’s vibrant properties make it one of the most highly sought
after holistic ingredients in the world. (Photo: Business Wire)
“We believe in the ability of Kiwis to compete and win on the
global stage and have installed an outstanding team at Florenz with
deep global experience,” said Mike Tod, CEO, Florenz. "Through
Florenz, we have started assembling and growing a complementary
series of businesses. Florenz is actively looking at other
investment opportunities as it seeks to grow a world-class export
business to further strengthen the New Zealand economy.”
Establishing a base in the United States to accelerate the
growth of Florenz products into North America is a key first step.
With its presence in more than 23,000 retail stores including
Walmart, Costco and Whole Foods, Wedderspoon provides a foundation
on which to build momentum.
Wedderspoon Organic, the largest seller of New Zealand sourced
and manufactured Manuka honey products in North America, has
experienced impressive growth and success. Founded 19 years ago,
its products range from bottled Manuka honey to Manuka honey
lozenges, drops and apple cider vinegar, as well as Bee Propolis
throat sprays. Under chief executive officer Rebecca Remley,
Wedderspoon has steadily grown a highly customer-focused business
of scale in one of the most challenging markets for New Zealand
products to flourish.
“We are privileged to become the new custodians of the
Wedderspoon brand and to support the growth of the New Zealand
Manuka honey industry by building more global awareness of this
incredible natural product,” added Tod. “It is terrific to be able
to support Rebecca and her team on this next chapter of the
Wedderspoon journey as the company seeks to accelerate growth
through online and bricks-and-mortar sales in the United States,
Canada and Europe. Product innovation is a key enabler of this type
of success, and the team has exciting customer-led product
developments in the pipeline.”
Florenz also owns New Zealand-based vitamins and supplements
exporter Xtend-Life Group, ingredients manufacturer Dry Food New
Zealand and innovative blackcurrant-based sports performance
supplement exporter, 2Before Performance Nutrition, which was
purchased from Government-owned Plant and Food Research. In
addition, Florenz is a cornerstone shareholder of iconic New
Zealand herbal remedies company Harker Herbals Products, which was
established more than 40 years ago.
About Florenz:
Florenz is a subsidiary of Christchurch-based investment company
Masthead Limited, a commercial arm of the Stewart family. Masthead
Limited is an active corporate investor in New Zealand public and
private equity markets. Its most recent divestment was the sale of
premium petfood manufacturer Ziwi. Florenz is an active investor in
wellness related companies with products backed by science and
curated in New Zealand.
About Wedderspoon:
Founded in 2005, Wedderspoon is a passionate steward of Manuka
Honey-based products that awaken energized living. Wedderspoon
offers a dynamic collection of expertly crafted products that
capture the lusciously rare and powerful nature of genuine Manuka
Honey, which is exclusively produced by bees feeding off the Manuka
bush on New Zealand’s North and South Islands. From its use in the
kitchen, in beauty and active lifestyle self-care rituals and more,
Wedderspoon Manuka Honey’s vibrant properties make it one of the
most highly sought after holistic ingredients in the world.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240703178076/en/
For Wedderspoon Amber Nelson anelson@shiftcomm.com