Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Comvita buys Aussie groves to expand olive extract output

Comvita buys Aussie groves to expand olive extract output

Jan 23 (BusinessDesk) - Comvita, which uses produces health products from manuka honey and olive leaves, has bought an 85 hectare organic olive estate with potential to expand its production of olive leaf extracts by 130 percent over the next five years.

The price paid for Organic Olives (Aust) by Comvita's Australian subsidiary is undisclosed. The estate comprises some 7,000 certified organic olive trees, with room for further plantings, and is in Coominya, on the shores of Lake Wivenhoe in south-eastern Queensland

The company recently reported clinical trials at Auckland University's Liggins Institute had found a beneficial impact from its olive leaf extracts on secretion of insulin and the action of insulin in overweight men. The research has yet to be peer-reviewed and published, but is expected to boost global interest in the product.

"We’re also scoping the possibility of building on this science, with additional clinical trials,” said Comvita chief executive Brett Hewlett.

“The acquisition … effectively future-proofs this rapidly growing part of our business. Together with fully developing our existing property, the development of our new purchase will provide the capacity to increase supply over the next five years by approximately 130 percent," said Hewlett.

Comvita shares last traded on the NZX at $3.65, although none changed hands immediately following the announcement.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news