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William Ransom divests Manuka Gold brand for £560,000

William Ransom divests Manuka Gold brand for £560,000

Hertfordshire headquartered natural healthcare company William Ransom (AIM: RNSM) agreed the disposal of its honey-based Manuka Gold health supplements to Honey New Zealand International for £560,000. Ransom said it intends to use the proceeds to reduce debt.

Ransom chief executive Ivor Harrison commented: “The divestment releases significant working capital and is consistent with the company's strategy of creating a focused, higher margin, differentiated natural consumer healthcare business".

The Manuka Gold brand is composed of various manuka honey based products, which are believed to be effective against a wide range of bacteria, particularly the helicobacter pylori, which is associated with stomach ulcers, the group said.

The product’s primary ingredient is imported from New Zealand. The Manuka Gold brand generated annual sales of approximately £300,000 in the year ended March 2009.  However Ransom said that the brand's margins are being significantly eroded due to changing distribution channels.

Ransom expects to continue the distribution of Manuka Gold to some of its client base on behalf of New Zealand Honey International, for a fee.

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