Heilala Vanilla secures investment
Tauranga-based Heilala Vanilla has signed an investment deal which will see the New Zealand Venture Investment Fund and Tauranga-based consortium Enterprise Angels BOP take a 45 per cent stake for an undisclosed sum.
Enterprise Angels involves 12 individual investors, including Kapiti Cheeses founder Ross McCallum and vodka brand 42 Below founder Geoff Ross.
Heilala sales and marketing manager Jennifer Boggiss said a huge capital investment and outlay went into developing export markets.
“We’ve started but there’s a long way to go and so not only are they bringing capital but they’re also bringing contacts and expertise, which is invaluable,” she said.
“We could have continued doing it ourselves and got there eventually but this is basically to fast-track it.”
The business was profitable but that was not a deal breaker for the new investors.
“They’ve got a long-term view and it’s all about building a brand.”
The investment deal would provide a capital injection to expand the business and ramp up exports to Australia, US and southeast Asia, while new opportunities in the US, UK and Japan would be explored this year.
Consumers were more aware of where their food came from and wanted to use quality ingredients, Boggiss said.
The company was focused on high-end food markets, including products for retail, food service and manufacturers, such as a packet of three vanilla pods and a jar of paste which sell for about $15 and $23 respectively.
Boggiss was an accountant and her husband worked in information technology, when in 2005 her father brought back the first vanilla pods from the Tongan plantation.
“Then, we wouldn’t have envisaged what we’re doing now so it’s definitely been bigger than what we expected and more exciting.”
First appeared in the New Zealand Herald on Tuesday Feb 7 2012
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