New Zealand, Australian Honey Wound Treatment Firms to Merge

Comvita to Buy Australian Firm Medihoney
The Sydney Morning Herald (Australia), 4/19/2007

Natural healthcare products company Comvita is to buy Australian firm Medihoney in an $A6 million deal.

The move was aimed at securing a global competitive position in the wound care sector, Bay of Plenty-based Comvita said.

The acquisition would be paid for with $A5.5 million in Comvita shares and $A500,000 in cash.

It was subject to due diligence, regulatory approval and approval by the shareholders of Medihoney's owner, Capilano Honey.

The deal would give Capilano Honey a shareholding of just above 8 per cent in Comvita.

Medihoney's primary business, which started in 1999, was developing products for protecting and healing skin using biologically active honeys or products made from honey derivatives, Comvita said...