New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Comvita (CVT) has acquired Singaporean honey retailer HoneyWorld at a price of SG$8.5m (~NZ$10.4m) in a materially earnings accretive deal.</li><li>The acquisition raises CVT’s total share of the Manuka honey category in Singapore to ~50%, and will be fully debt funded.</li><li>HoneyWorld’s FY24 revenue is expected to be in excess of SG$13m (~NZ$15.9m).</li></ul>

Comvita (CVT) has acquired Singaporean honey retailer HoneyWorld at a price of SG$8.5m (~NZ$10.4m) in a materially earnings accretive deal.The acquisition raises CVT’s total share of the Manuka honey category in Singapore to ~50%, and will be fully debt funded.HoneyWorld’s FY24 revenue is expected to be in excess of SG$13m (~NZ$15.9m).

Comvita Ltd

Comvita (CVT): HoneyWorld Acquisition