Global natural health and beauty products company Comvita has acquired Waikato Honey Products to strengthen its supply of manuka honey.
The Te Awamutu apiary farms 3500 beehives throughout Waikato and central North Island. The purchase price was confidential.
Chief executive Brett Hewlett says the business will give Comvita extra supplies of pasture and manuka honey.
He says there are some limitations on the availability of manuka honey and it's dependant on access to the manuka plant itself, so this is a long term planning approach.
Mr Hewlett says Comvita has undertaken a number of planting programmes and land development projects with landowners and as those plantings start to take hold the company will also need beehives to place on those sites.
Comvita owns, or has under contract, about 50,000 hives. It supplies natural health and beauty products to 14 countries.
Mr Hewlett says it has nothing to do with a $71.6 million takeover bid from Cerebos, a giant coffee and food company which is listed in Singapore.
Cerebos is expected to formalise its offer of $2.50 per share for the Comvita by 14 November.