Masthead Limited, a Christchurch-based investment firm, has acquired Wedderspoon Organic Group, a leading brand of Manuka honey. Masthead Limited plans to consolidate its consumer brand portfolio into a new holding company called Florenz, with Mike Tod as CEO.
“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 Tod.
"Through Florenz, we have started assembling and growing a complementary series of businesses. Florenz is looking at other investment opportunities to grow a world-class export business and further strengthen the New Zealand economy.”
Establishing a base in the United States to accelerate the growth of Florenz products in North America has been a critical first step. With its presence in more than 23,000 retail stores, including Walmart, Costco and Whole Foods, Wedderspoon provided a foundation 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 honey tablets, drops, apple cider vinegar, and Bee Propolis throat sprays. Under chief executive officer Rebecca Remley, Wedderspoon has steadily grown into 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 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.
Florenz is also a shareholder of iconic New Zealand herbal remedies company Harker Herbals Products, established more than 40 years ago.
More local news here
