Nestlé NZ could take a hit on Egmont Honey sale

Nestlé owns 75% of Egmont Honey with the other 25% owned by CEO and founder James Annabell. (Image: NZME)

Mon, 27 May 2024

Nestlé New Zealand looks set to take a hit on its investment in Egmont Honey as it puts the business on the market less than two years after buying it.The local arm of the Swiss multinational food manufacturer confirmed last week it was going to spit out the Taranaki-based producer after purchasing it alongside Go Healthy and NZ Health Manufacturing in 2022.The Overseas Investment Office (OIO) later revealed it paid $375 million for The Better Health Company (TBHC) – the group’s parent company.'Strategic directi...

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