BRIEF-Comvita Acquires Market Leader Honeyworld Singapore

Reuters SG

July 4 (Reuters) - Comvita Ltd:

* COMVITA ACQUIRES MARKET LEADER HONEYWORLD SINGAPORE

* ACQUIRED IN A TRANSACTION VALUING HONEYWORLD AT SG$8.5M

* COMBINED WITH THEIR EXISTING BUSINESS IN THIS MARKET COMVITA'S MARKET SHARE IN MĀNUKA HONEY CATEGORY IN SINGAPORE WILL BE AROUND 50%

* ACQUISITION TO BE IMMEDIATELY ACCRETIVE TO CO WITH HONEYWORLD FORECASTED 24% INCREASE IN RETURN ON CAPITAL EMPLOYED ONCE INTEGRATED

* ACQUISITION IS FORECAST TO DELIVER A 22% IMPROVEMENT IN EPS FOR COMVITA

* ACQUISITION IS TO BE DEBT FUNDED

* ACQUISITION TO ACCELERATE DELIVERY OF FY25 TARGET OF NZ$50M EBITDA Further company coverage: