Former Masterpet investors take fruit syrups to the world
Lower Hutt-based SHOTT Beverages plans to expand its exports into Britain, Canada and South Korea.
Former Masterpet Corporation chairman Andrew Meehan is behind private consortium Beverage Holdings’ (BHL) decision to take a 70% stake in SHOTT Beverages for an "undisclosed sum".
The company already exports to South Korea and Australia.
Mr Meehan and former Masterpet executive director Brent Wootton will both join the board of SHOTT. Mr Meehan will become chairman.
The Lower Hutt company is the country’s biggest supplier of café syrups and fruit syrups to supermarkets, cafes and speciality food stores.
Founder Tami Louisson told NBR ONLINE she wants to take what SHOTT has achieved in New Zealand and duplicate it overseas.
She says there has been plenty of interest from a number of countries, but they want to be careful not to take on too many at once.
“Korea will be a big focus. With 48 million people, to take 10% of the market would be an ideal goal.”
SHOTT is exporting to South Korea and Australia after working with New Zealand Trade and Enterprise.
Mr Meehan says BHL has been working with SHOTT for the past six or seven weeks.
“We think it’s a great company. It’s got a strong balance sheet, it’s profitable, it’s got some unique New Zealand-based natural ingredient products.”
He believes "global food integrity" is a big thing these days and says SHOTT is a good match for BHL.
Mr Meehan told NBR he wants to further target Korea and Australia, as well as expanding into Britain and Canada.
“Primarily, the hero product is lemon ginger honey and it’s a cold-climate product – it’s a hot drink.”
Mr Meehan says one of the goals is also to double SHOTT’s annual product of a million bottles.
The company’s factory is capable of that but may need extra machinery to improve efficiency.
Messrs Meehan and Wootton were with Wellington-based Masterpet for nine years before its sale to last year to Ebos.