Thursday, 22 November, 2012 - 15:58
Capilano Honey bids for Wescobee
Western Australia’s major honey producer Wescobee has become the subject of a takeover offer by listed Brisbane company Capilano Honey.
Capilano Honey is an ASX-listed company which acquired WA-based Wescobee in 2013 for $4.1m.
Western Australian beekeepers created the WA Honey Pool in 1924 in order to offer an alternative avenue to market for their produce which was, until that time, sold under merchant (buyers) brand names. Within a few years, a plant had been constructed on the site of the Westralian Farmers Co-Op headquarters. A competition to obtain a suitable name to “brand” the honey was conducted through the newspapers with the result that “Wescobee” brand was decided. The winning entry was sent in by the late Mr AC Kessell of Westfarmers and the name was coined from the words West Australian Co-operative Beekeepers. In 2013, Wescobee shareholders voted to sell the WA honey packer's brand and operations to Brisbane-based Capilano after a dissident group failed to overturn the deal or throw out the board. About 17% of the group is owned by Kerry Stokes Wroxby Pty Ltd. In late 2018, Capilano was privatised.
Contact Details
,
