Global natural health and beauty products company Comvita has acquired a new olive estate in Queensland, Australia.

Purchased through its wholly owned subsidiary company Comvita Australia Pty Limited, the Paengaroa-based business is continuing to expand with the acquisition of the Organic Olives company.

Comvita has purchased an olive estate in Queensland, Australia.

Comvita CEO Brett Hewlett says the acquisition will meet increasing demand for Comvita's multiple award-winning fresh Olive Leaf Extract.

'The acquisition of additional land for the expansion of the Olive Products Australia business ensures Comvita has supply surety and meets the requirements for increased leaf capacity in a rapidly growing global market.”

Situated on the shores of Lake Wivenhoe in South-East Queensland, the 85ha

(200 acre) estate has 7000 certified organic olive trees.

Brett says it is highly suitable for further planting of specialist olive trees suited to production of organically certified fresh Olive Leaf Extract.

Brett sys Comvita's fresh Olive Leaf Extract is beneficial for immune and cardiovascular support.

Most recently a clinical trial by The Liggins Institute at The University of Auckland has shown fresh Olive Leaf Extract prepared by Comvita, improves the way insulin is secreted and improves the activity of insulin in overweight men.

Insulin that does not work effectively can lead to diabetes. The results have been submitted by The Liggins Institute for peer review and publication.

'We expect there will be increased interest in Comvita products as a result of the trial. We're also scoping the possibility of building on this science, with additional clinical trials,” says Brett.

'The acquisition of this new land site for expansion of fresh OLE production is timely

and effectively future-proofs this rapidly growing part of our business. Together with fully developing our existing property, the development of our new purchase will provide the capacity to increase supply over the next five years by approximately 130 per cent.”

The purchase price is confidential.