Information on the Target

STILL is proud to announce its acquisition of National Candles, a brand that represents quality and tradition in New Zealand. Established in the 1920s as 'Prices Candles', National Candles has a rich history, having crafted traditional candles for homes, schools, and churches across New Zealand for over a century. The company currently produces around 3 million candles each year, utilizing high-quality paraffin wax sourced from Japan and locally made beeswax.

National Candles is committed to preserving traditional candle-making techniques, employing the finest materials to ensure their products are synonymous with quality and artistry. The McLean family has owned the business since 1996, relocating the factory to its present site in Te Aro, Wellington. Sam McLean, the outgoing owner, emphasizes the significance of selling a family business and expresses confidence in STILL's commitment to maintaining the legacy of National Candles.

Industry Overview in New Zealand

The candle industry in New Zealand has witnessed steady growth, fueled by a rising consumer preference for homemade and artisan products. In recent years, there has been an increasing demand for eco-friendly and sustainable candles, as consumers become more environmentally conscious. This shift has encouraged companies to focus on quality and craftsmanship, catering to a niche market that values heritage brands.

Additionally, New Zealand's unique cultural identity and natural resources offer a robust foundation for the local candle manufacturing sector. Companies that leverage local materials and traditional craftsmanship are well-positioned to appeal to both local consumers and the growing market for artisanal products globally. As a result, companies like National Candles are seeing renewed interest from consumers who value authenticity and quality.

The market is characterized by a blend of small-scale producers and established heritage brands. The support for local businesses is strong, with various initiatives and platforms promoting New Zealand-made products. This creates a favorable environment for established companies like National Candles, which can capitalize on their history while also adopting modern marketing strategies to reach new consumers.

Moreover, as candle usage expands beyond traditional settings towards home décor and gifting, opportunities for innovative product development arise within the climate of increasing consumer interest. This paints a promising picture for the candle industry in New Zealand, positioning brands that uphold quality and tradition as critical players in the market.

The Rationale Behind the Deal

The acquisition of National Candles aligns with STILL's vision of promoting and preserving iconic New Zealand businesses that embody quality and authenticity. By acquiring this heritage brand, STILL aims to sustain the legacy established over many decades while also driving innovation within the company.

This deal represents a strategic move to enhance STILL's portfolio, allowing them to further their commitment to Aotearoa New Zealand's cultural and economic landscape. It reinforces their mission to provide meaningful and essential support for local businesses, ensuring that time-honored brands like National Candles not only survive but thrive well into the future.

Information about the Investor

STILL is a dynamic organization dedicated to cultivating an expansive network of businesses and initiatives that contribute positively to the future of New Zealand. The company’s portfolio includes notable enterprises such as World of Wearable Art, Metro Magazine, and SHAPE Energy Group, reflecting its commitment to supporting unique and innovative organizations across various sectors.

Under the leadership of CEO Hideaki Fukutake, STILL has positioned itself as a champion for iconic New Zealand brands, recognizing their potential to shape the cultural and economic fabric of the nation. The company operates with a long-term vision, striving to ensure that the rich heritage of New Zealand continues through thoughtful stewardship and investment in local enterprises.

View of Dealert

The acquisition of National Candles by STILL stands as a strategic and meaningful investment that is likely to yield positive outcomes for both the company and the community. By preserving the brand's rich history and commitment to quality, STILL not only honors the legacy of National Candles but also ensures that it will continue to resonate with customers who appreciate artisanal craftsmanship.

Moreover, the move aligns with the broader trend towards sustainable and locally produced goods, which is increasingly gaining traction in today's market. As consumers become more discerning about their purchasing decisions, brands that emphasize authenticity and heritage are more likely to succeed.

STILL's established network and resources present additional advantages, enabling National Candles to explore new market opportunities and innovate within its product offerings. The combination of tradition with modern business strategies positions National Candles to thrive in a competitive landscape.

In conclusion, this acquisition seems to be a well-calculated decision that could serve as a model for future investments in New Zealand's heritage brands, reflecting a commitment to sustainability and cultural preservation that resonates well with today's consumers.

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