CHRISTCHURCH, New Zealand--(BUSINESS WIRE)--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.
“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.
