Mariner buys stake in Capilano honey

Mariner Corporation Limited has purchased a 12.65 per cent stake of Australian honey producer Capilano.

Mariner purchased the 1 078 167 shares from Guinness Peat Group (Australia) Limited and said in a statement on the Australian Stock Exchange (ASX) website that the stake in Capilano is part of a greater push by the company.

“The acquisition is the final part of a series of 4 acquisitions from GPG for a total consideration of $3 160 000, as announced to the market on 2 February 2012, and follows other recently announced Mariner Settlements of a 19.83% stake in Peanut Butter Company of Australia Limited, a 12.02% state in Farm Pride Foods Limited and a 19.65% stake in Tasmanian Pure Foods Limited.

Mariner was established in 2003, and with offices in Boston, London and Tokyo, was specialised in Australian and international real estate prior to the Global Financial Crisis (GFC).

It implemented plans to disposal of assets and investments, cut costs, reduce debt and simplify operations.

New management of the company is focussed on re-launching the company and immediate growth from strategic acquisitions.

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