Moves in Manuka: Masthead to acquire Wedderspoon Organic
09 Jul 2024 --- UK-based investment firm Masthead Limited has acquired Wedderspoon Organic Group, a US Manuka honey brand that sources its honey from New Zealand and plans to consolidate its consumer brand portfolio into a new holding company called Florenz.
Establishing a base in the US to accelerate the growth of Florenz products in North America is a key first step of the move. With its presence in more than 23,000 retail stores, including Walmart, Costco and Whole Foods, acquiring Wedderspoon and its portfolio is expected to build momentum in the US market.
Mike Tod will lead Florenz as CEO. “We believe in the ability to compete and win on the global stage and have installed an outstanding team at Florenz with deep global experience,” he says.
“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.”
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Wedderspoon Organic, founded 19 years ago, sells New Zealand-sourced and manufactured Manuka honey products in North America. Its products range from bottled Manuka honey to Manuka honey lozenges, drops, apple cider vinegar and Bee Propolis throat sprays.
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Wedderspoon Organic Group is a US-based Manuka honey brand that sources its honey from New Zealand.Under CEO Rebecca Remley, the company 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,” explains Tod.
He is eager to support the company’s growth through online and brick-and-mortar sales in the US, Canada and Europe.
He also adds that “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 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 New Zealand herbal remedies company Harker Herbals Products, which was established more than 40 years ago.
