Masthead Limited Acquires Wedderspoon Organic Group, Launches Florenz
Slice of Retail Team
Jul 10, 2024
Key Highlights:
- Masthead Limited acquires Wedderspoon Organic Group.
- New holding company Florenz established.
- Mike Tod appointed as CEO of Florenz.
- Florenz plans expansion into North America with Wedderspoon.
Source (Business Wire)
Quotes
“ “We believe in the ability of Kiwis to compete and win on the global stage and have installed an outstanding team at Florenz with deep global experience. We are privileged to become the new custodians of the Wedderspoon brand and to support the growth of the New Zealand Manuka honey industry by building more global awareness of this incredible natural product.” ”
Mike Tod, CEO at Florenz
Our Take:
Masthead Limited's acquisition of Wedderspoon Organic Group and the establishment of Florenz signals a significant move in the consumer wellness market. With Mike Tod at the helm, Florenz is poised for rapid expansion, particularly in North America. Wedderspoon's robust retail presence provides a strong foundation for this growth. The strategic focus on product innovation and global market penetration is likely to strengthen New Zealand's position in the global wellness sector. Florenz's diverse portfolio, including Xtend-Life Group and Harker Herbals Products, positions it well to leverage synergies across its brands, fostering a holistic growth strategy.
