Brief: Comvita Acquires Market Leader Honeyworld Singapore

Comvita

03/07/2023 21:34

July 4 (Reuters) - Comvita Ltd  CVT.NZ :
    * COMVITA ACQUIRES MARKET LEADER HONEYWORLD SINGAPORE
    * ACQUIRED IN A TRANSACTION VALUING HONEYWORLD AT SG$8.5M
    * COMBINED WITH THEIR EXISTING BUSINESS IN THIS MARKET
COMVITA'S
MARKET SHARE IN MĀNUKA HONEY CATEGORY IN SINGAPORE WILL BE
AROUND 50%
    * ACQUISITION TO BE IMMEDIATELY ACCRETIVE TO CO WITH
HONEYWORLD
FORECASTED 24% INCREASE IN RETURN ON CAPITAL EMPLOYED ONCE
INTEGRATED
    * ACQUISITION IS FORECAST TO DELIVER A 22% IMPROVEMENT IN
EPS FOR
COMVITA
    * ACQUISITION IS TO BE DEBT FUNDED
    * ACQUISITION TO ACCELERATE DELIVERY OF FY25 TARGET OF
NZ$50M
EBITDA

Further company coverage:  CVT.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))