Nestle will soon divest its Egmont Honey business, with Rothschild Australia and New Zealand investment bank Cameron Partners now already looking for buyers, the Australian Financial Review reported.
Nestle Health Science acquired a 75 per cent stake in Egmont Honey in 2022, with the remaining 25 per cent held by its founder James Annabell, who started the business with his father in 2015.
Citing a pitch deck, AFR said that the two financial institutions are marketing Egmont Honey as “the fastest-growing manuka company globally” with a “vertically integrated hive-to-market model”.
The pitch also said that Egmont Honey has been growing fast in Europe and the US, which account for more than 50 per cent of its revenue and have doubled this financial year.
The manuka business is estimated to deliver $54 million in revenue and $20.7 million in earnings in the fiscal year ending in March next year.
The pitch mentioned that new product developments for Egmont Honey are underway and that the business is also looking to expand through e-commerce.
Egmont Honey also seeks to further penetrate China and boost its distribution in the UK and the US.
