NZ’s Largest Beekeeping Business Forced into Receivership – “Sad”, “Frustrating” says Owner

The country’s largest beekeeping business, Tweeddale’s Honey, with 19,000 hives to its name and having operated for 81 years through three generations, has become the latest in a long line of honey businesses to fold as the ramifications of years-long honey prices below cost of production continue to be felt. With an upturn in honey returns expected this season, owner Don Tweeddale says he understands, but is frustrated at, the timing of the receivership.

Don Tweeddale owner of the largest beekeeping enterprise in New Zealand, Tweeddale's Honey, which, after being forced to receivership, is the latest in a line of manuka honey businesses to succumb in the last year.

“A perfect storm” is how the Taihape-based business owner describes the combination of rising costs and more-than-a-half-decade of poor honey pricing that have seen debt build to unsustainable levels.

“All beekeepers know that costs are escalating, from wages, to varroa strips, the vehicles, it goes on and on. Even though honey prices have lifted up now, it is just too late,” Tweeddale says.

With $24 million owing, Bank of New Zealand sent both Tweeddale’s Honey (NZ) Ltd. and the husband-and-wife partnership of Don and Conchita Tweeddale, which owns the land on which Tweeddale’s Honey operates from, into receivership on March 9. Wellington firm Teneo Financial Advisory New Zealand have been appointed receivers and have taken over operation of the business while preparing it for sale.

The Taihape base of Tweeddale’s Honey, which leases the facility from the partnership of Don and Conchita Tweeddale. Both businesses entered receivership of March 9, owing $24million to Bank of New Zealand.

“We are continuing to trade the business on as much as a business-as-usual basis as we can,” receiver Richard Nacey says.

“The staff are remaining employed and it is right in a busy part of the season, extracting and processing honey. We will continue to do that.”

There are currently 36 staff, some temporary for the busy honey harvest and extraction season. Six members of the Tweeddale family work in the business, Don and Conchita, plus four of their children.

Piling Debt

“It was coming,” Tweeddale says, having increased bank borrowing for the past six and a half years. It began when the 2018 bush honey crop of 500 tonnes was sold for just $3.50 a kilogram.

“It could not continue. We know the scenario – very poor prices, two bad weather seasons. Beekeeping operations can cope with one or two bad seasons, as long as the money they are getting for the honey they are producing is profitable, but we have been selling non-mānuka honey well below operational costs. All our mānuka has been sold at very low prices, even our good quality mānuka has barely covered our operating costs.”

No business owns more hives in New Zealand than the 19,000 of Tweeddale’s Honey. Their forest green colourings are synonymous with the 81-year-old business.

Tweeddale recently stated that break-even per-kg pricing for their business was around $8/kg for non-mānuka honey. Mood around the industry is that level of pricing is likely to be obtained this year, meaning Tweeddale’s Honey were potentially only months away from reducing debt as the receivers moved in.

“It’s very frustrating,” Tweeddale says.

“We could have slowly worked our way out of this, given honey production and better prices, but the bank has a policy of only going so far. I approached the bank explaining we have had a good, average season this year, and that prices are up 40 to 60 percent on mānuka, but they still said ‘no’ and pulled the plug on us and that’s the way it is.”

Everything is large scale at the Tweeddale’s Honey but … “If you are selling it below operating cost though, it doesn’t matter how much [honey] you have got, you are going to lose”.

Buyers Nibbling Already

While the business will continue to operate under the receivers, it is now for sale. Despite not yet being marketed, some interest has come in since the receivership was gazetted on March 9. There is also a “reasonable” volume of honey to be sold Nacey says.

“We will be going through the process of how we get the best value for that. We will also be looking to market the business for sale. Ideally it would sell as a going concern. That would retain employment for the staff and you get best value for the assets that way,” the receiver says.

Don and Conchita Tweeddale and the next generation continue to be employed and Nacey says the receivers “are working constructively with Don Tweeddale and his family to continue to operate the business”.

Tweeddale’s Honey produces between 800 and 1000 tonnes of honey in a “normal” year, that is 42-53kg/hive off their 19,000 hives.

As for potential buyers, despite having “a number” of people reach out, Nacey says they will go through a “thorough and robust sales process” which is likely to take several months.

Join the Club

Tweeddale’s Honey is the sixth major mānuka honey producer to be put into receivership, wind down, or experience substantial financial difficulties since January 2025, following Comvita, Summer Glow Apiaries, Settlers Honey, King Honey, and Cammells Honey.

Comvita repeatedly warned that receivership or voluntary administration could result from failure of the Florenz takeover bid launched in August 2025 and is attempting to reduce total bank debt which stood at $58.9m as at 31 December 2025. Summer Glow Apiaries, which as the inaugural UMF Honey Association member and licensee held licence number 1001, disabled its website and withdrew from the association in 2025 as it wound itself down. Supplements brand company Me Today itself pulled the plug on subsidiary King Honey in July 2025. Waitemata Honey acquired Cammell Honey brand assets in February 2025. Settlers Honey defeated receivership proceedings initiated by Bank of New Zealand in July 2025. Gloriavale enterprise Forest Gold Honey was among a raft of smaller mānuka honey businesses that were put into receivership or deregistered during the year.

A Long Legacy

At 77 years-old, Don Tweeddale was just three years old when his parents, Stuart and Thelma Tweeddale, launched the business. Off the back of the ‘mānuka-boom’ years of the 2010s beehive numbers climbed to 24,000 by 2020, but now sit closer to 19,000. Located across the Central North-Island they collect predominantly mānuka, clover and rewarewa honey varieties.

The Tweeddale’s Honey brand was launched in 2020 in an effort to extract greater returns.

Recognisable for its distinctive forest-green beehives, sheds, beekeeping-suits and even vehicles, the business produces between 800 and 1000 tonnes of honey in a “normal” year Tweeddale says.

The debt began stacking up at Tweeddale’s Honey in 2018 when 500 tonnes of honey was sold at $3.50/kg, significantly below the cost of production.

“If you are selling it below operating cost though, it doesn’t matter how much you have got, you are going to lose,” the life-long beekeeper summarises.

He is stoic in the face of the family-business’s receivership, even seeing significant silver linings and is “optimistic there will be a good future relatively soon”.

“I am sad, but at the same time I think there is opportunity coming up and I think that will be good for the family members and me in my retirement, but the legacy of Tweeddale’s Honey will be sold on to someone else.”

Despite the passing mention of retirement, Tweeddale hopes to be heavily involved in the 81-year-old family business, even if under new owners, as he nears his 80s himself.

“I don’t give up. I have a passion for bees and for my family. That’s is what I will continue to do,” he says, adding “I will work till I drop”.

*This report features research assistance from Bruce Roscoe.