Oha Honey last year reported a $23.2 million loss. Photo: 123RF
Ngāi Tahu Holdings is closing down part of its honey business due to ongoing financial losses.
Last year, Oha Honey reported a $23.2 million loss.
The company's North Island operations will close, affecting 77 jobs, but the South Island apiary operation will continue to operate.
Ngāi Tahu Holdings acting chief executive officer Todd Moyle said the decision was made due to significant industry challenges including an oversupply of honey.
"We have reached an in-principle commercial partnership agreement between Oha Honey, Ngāi Tahu Holdings Corporation and The Mānuka Collective. The agreement is designed to build a sustainable, long-term business that benefits from a collective model."
