Nosh founder snaps up Piako
The confidential buyer of the Piako Gourmet Yoghurt brand has been revealed.
Hauraki Dairy purchased the brand and its intellectual property in November last year from Tasman Dairy Producers and Kiwi Yoghurt Company.
Hauraki's sole director Chris Moore said he had big plans for the brand which is now manufactured and distributed by Fonterra.
"The value-added dairy space has excellent prospects, both on a local and international scale and we're excited about the acquisition of Piako and developing it in multiple markets."
Moore, a co-founder of the gourmet Nosh Food Market chain in the upper North Island, said he was working with Fonterra and other manufacturers to develop and distribute new product lines.
Piako was started by Shaun Jacka and Hamish Pye as a family-run business, but the manufacture was outsourced to Fonterra 20 months ago when demand grew beyond the capacity of Piako's Auckland-based factory.
Under Fonterra, the brand's share of the gourmet yoghurt segment has doubled from 7 to 14 per cent.
- © Fairfax NZ News