Manuka honey manufacturer Comvita expands into SG with acquisition of HoneyWorld Singapore

Manuka honey manufacturer Comvita has expanded into the Singapore market after it acquired specialty honey retailer HoneyWorld Singapore. 

Its new presence in Singapore provides Comvita with the opportunity to access the Singapore market and accomplish its goal of expanding beyond HoneyWorld’s 18 existing stores as well as offering Comvita’s products to pivotal industrial partners.  

“This agreement represents a highly strategic opportunity for Comvita to acquire a high-quality retail brand that is the market leader in Singapore. We are achieving strong results in our other retail stores in markets throughout Asia and are delighted to add HoneyWorld’s renowned capability and influence to the Comvita family,” said David Banfield, chief executive officer of Comvita in a statement.

He added that the company will be retaining the services of HoneyWorld Singapore's founder Pearline Goh through the acquisition. 

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With the acquisition of HoneyWorld, products offered will be standardised. The HoneyWorld brand name will still be retained in the products through. HoneyWorld stands to benefit from the acquisition as well as it can tap into Comvita’s bank of wellness and lifestyle products.

“We are thrilled to be part of the Comvita family, as we share a vision of being a premium wellness and lifestyle brand. As customers become more discerning, we see Comvita’s scale and ability to introduce quality natural products backed by world-class scientific know-how as being sustainable and important,” said Pearline Goh, founder and director of HoneyWorld.

Additionally, Comvita’s collection of wellness products will be accessible to customers across all HoneyWorld specialty stores and counters at departmental stores together with current HoneyWorld products. Moving forward, Comvita anticipates coming through with a wider collection of innovative products and experiences.

Singapore has been a hot destination for corporations and agencies to expand their business into. Just recently, Omnicom Media Group, the media services division of Omnicom acquired Ptarmigan Media, a specialist agency that provides end-to-end media and marketing solutions to financial services brands, according to a statement by the agency.

Ptarmigan Media delivers a range of services including fully integrated media planning and buying, market research, search and social, as well as content and creative.

The company also specialises in serving financial services clients in the asset management, life and pensions, banking, trading and platforms, wealth management, fintech, and insurance sectors across APAC, EMEA and North America. It currently has offices globally including in Singapore, Hong Kong, Sydney and New York. 

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