Nov 7 2018
Bega LTD, the second largest shareholder in Capilano LTD, has announced it will sell out and support a take over by a China focused consortium of private investors.
The consortium of Wattle Hill and ROC Capital, called “Bravo BidCo” are reported to be crafting a deal that will see them receive 100 per cent of Capilano shares valued at approximately 198.6 million.
It was speculated that Bega were intent on buying Capilano Ltd six months ago but have possibly become wary of connecting themselves with Capilano Ltd after the Fairfax Media #honeylaundering expose…
Shrewd Chinese businessman Mr Albert Tse, who has links to the Australian Labor party, will be delighted. Mr Tse fled to Australia in 2014 to escape the pollution in Beijing. https://www.afr.com/business/jessica-rudd-and-albert-tse-start-an-accidental-work-partnership-20170107-gtnneh
Consortium player Wattle Hill RCH was founded by Mr Tse (husband of former prime minister Kevin Rudd’s daughter Jessica Rudd) to capitalise on the insatiable demand by China’s middle class for clean and safe products made in Australia and New Zealand.
In effect this means pristine Australian honey will go direct to China while at the same time Capilano Ltd will continue to import Chinese honey to sell to Australians…
Australian beekeepers are furious that the limited apiary sites which have been bought up by Capilano Ltd will now potentially be owned by the Asian consortium.
Local beekeeper Ben Moore from Ben’s Bees said “I would like to think the future of beekeeping in Australia is not in a corporation owning 1,000,000 hives, rather thousands of smaller family owned apiaries doing well out of honey and contributing to pollination”
“Ben urges people to buy honey from their local beekeeper direct.
“When you buy honey from a local beekeeper you are helping a little girl get dancing lessons and not an investment banker a third holiday house”
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