Comvita ready to pounce on potential acquisition targets

Thu, 26 Jul 2012

By Paul McBeth July 26 (BusinessDesk) - Comvita, which makes products based on the virtues of manuka honey, is in a position to snap up any potential takeover targets, chief executive Brett Hewlett told shareholders at their annual meeting in Te Puke. The company has a strong balance sheet and has "significant financial capacity to make acquisitions," said Hewlett. Comvita is looking to make acquisitions in honey supply and other raw materials. "Any such acquisitions would need to be demonstrably earnings-per-share positive," he said. "We w...

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