Capilano Honey looks to stick with $190-million takeover bid by China-focused buyer
Australia’s biggest honey producer Capilano Honey is set to be taken over by a private equity group specialising in China-focused agricultural exports.
Partnering in the $190-million bid for the 65-year-old company is Wattle Hill, co-founded by Albert Tse, husband of Jessica Rudd, daughter of former PM Kevin Rudd.
The other half of the consortium is investment manager Roc Partners.
Capilano shares jumped 25 per cent to a two-year high after the honey group’s board endorsed the offer.
CEO Dr Ben McKee tells Ross Greenwood it was “very important” stakeholders were “protected” in the deal.
“The soul of our company is Australian beekeepers and Australian honey.”
He says more honey is leaving the domestic market for China.
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