Manuka Health mulls capital raising options
Former AANZ Chair Ray Thomson provides some insights on the next steps for angel-backed Manuka Health.
Manuka Health, the functional food and dietary supplement company, is reviewing capital-raising options to help fund a global roll-out of new products said to boost the antibacterial qualities of manuka honey and its pipeline of research and development.
The private company has ruled out a public listing at this stage but chief executive Kerry Paul said it was considering other options including new investors who bring more than just capital to the table.
Manuka Health was founded in 2006 and exports 90-plus products based on propolis, royal jelly, bee pollen, and manuka honey to 45 countries. It has annual turnover of more than $50 million, 80 staff, and is owned by a number of private shareholders including Paul and family interests associated with chairman Ray Thomson, and institutional investors, Milford Asset Management and Waterman Capital.
Manuka Health holds the worldwide licence and pays royalties on sales to Kobe University of Medicine in Japan for the new technology, which combines encapsulated manuka honey with plant-derived cyclodextrin, “creating a free-flowing powder that can easily be added to foods and beverages for ease of delivery of health benefits,” according to a report on the company’s website.