Bega’s buzzkill

THE buzz was that Bega Cheese was interested in buying Capilano Honey but the dairy company is instead selling its stake to a Chinese-focused consortium. Bega, which in September became the second-biggest investor in the honey producer, announced yesterday that it was selling its 15.6 per cent stake to the Bravo BidCo consortium. Bravo, a consortium of Wattle Hill and Roc Capital, in August offered $20.06 a share for Capilano. The dairy company lifted its stake in the listed honey company the next month, paying $5.38 million for 255,291 shares at an average of $21.08 each.