Switzerland: Nestle to sell Egmont Honey brand

Nestle, the Swiss consumer goods giant, has announced the sale of its New Zealand based Egmont Honey brand to Huatai International, a Beijing-based private equity fund, after two years of ownership.

Founded in 2008, Egmont Honey specialises in manuka honey and sustainable beekeeping practices, exporting its products to more than 20 countries.

The move is described as being part of a wider strategy to streamline Nestle’s portfolio, as well aligning with Egmont Honey’s expansion goals in China.

“Egmont Honey, which we acquired with our acquisition of The Better Health Company in 2022, is the fastest-growing manuka honey company globally and has had impressive growth over the past two years”, the company said in a statement.

Egmont Honey is expected to generate approximately A$54 million ($34.56 million) in revenue for the year ending next March.

Source: Inside FMCG