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

 

British Company acts as a lynchpin for NZ in the US Market

19th October 2012

British Company acts as a lynchpin for New Zealand in the US Market

A little melon that is making the world a sweeter place is just one New Zealand success story that is being taken to new markets as a result of British investment and global reach.

New Zealand natural sweetener company, BioVittoria, credit their success to the partnership with the UK Company, Tate & Lyle with their launch into the US of a natural zero calorie sweetener.

The sweetener is made from a melon like fruit known as the Monk fruit. Inside this Chinese native are non calorific sweeteners 150 times sweeter than sugar. The New Zealand Company BioVittoria has the supply chain for the extract from Monk fruit.

The British High Commissioner Mrs Vicki Treadell says, “This is a great example of how a major British player is leveraging its distribution network to take a Kiwi company into new markets. This is being achieved through an exclusive global marketing deal whereby both companies benefit and succeed internationally together.”

“I like to call this strategic partnering of Tate & Lyle, BioVittoria and the American market an excellent example of Triangulation. This is where two countries work together to penetrate a third market.”

BioVittoria chief executive David Thorrold says the partnership is critical, “What is interesting about this is, here is an example of a company spring boarding into the US through the UK. It is not just about Europe, there are large British companies that have large businesses in places other than Europe. It would be the single most important partnership we have had to date.”

Praising BioVittoria’s strong presence in China, Tate & Lyle’s, Jeremy Thompson, says “the fact is that BioVittoria had already developed those relationships. If we had to seek out partners in China that had similar relationships, we would have had to start from the ground.”

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




REINZ May Data: House Price Rises Continue; Auckland Hits New Record Median Price Again

Median prices for residential property across New Zealand increased by 32.3% from $620,000 in May 2020 to $820,000 in May 2021, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand... More>>

Energy Resources Aotearoa: Doubling Of Coal Use Shows Need For Local Natural Gas

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa... More>>


E Tu: ‘Sense Of Mourning’ As Norske Skog Mill Set To Close

Workers at Norske Skog’s Tasman Mill now know they’ll be losing their jobs in little over a month’s time.
On Wednesday afternoon, workers were told the mill will be stopping production from the end of June... More>>



Auction: 1.4 Million In Rare Vintage Watches, Gems, Jewels & Diamonds Go Under The Hammer At Webb’s

An auction event showcasing over 1.4 Million dollars in rare jewels, gems, diamonds and vintage watches is due to take place this Sunday by Auckland based auction house Webb’s... More>>

Catalist: NZ’s New SME Stock Exchange, Gets Licence To Go Public

New Zealand has a new stock exchange – designed specifically for small and medium-sized businesses (SMEs) to raise up to $20 million a year from the public.
Called Catalist, the exchange has already been successfully working the private investment sector.... More>>

E-Commerce: Over 40% Of Those Engaged In The Bitcoin Community Are Millennials

Bitcoin has emerged to be a popular topic among millennials with digital currency increasingly being viewed as a potential source of creating wealth through investments. The interest in bitcoin by millennials signals the role this age group plays in the possible realization of the digital currency’s mass adoption... More>>