Comvita invests $9m in Uruguayan propolis producer
Comvita says it is supply-constrained for New Zealand-sourced propolis.
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Manuka honey producer Comvita has bought a $9 million or 20% share in Uruguay-based Apiter, the largest South American producer of propolis.
The investment will be paid by $US5.65m in cash and earnouts upon Apitar meeting certain milestones based on its sales targets and $US600,000 in Comvita
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Dane Ambler
Wed, 20 Jun 2018
Wed, 20 Jun 2018
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Comvita invests $9m in Uruguayan propolis producer
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