Nosh founder snaps up Piako

CATHERINE HARRIS
Last updated 11:51 18/01/2013

Relevant offers

Industries

Struggling coal miner Bathurst Resources to delist from the NZX Vodafone Rural Broadband uptake prompts inquiry call Owing refunds and invoices rile Monster Slide customers and suppliers Jenny Shipley among Mainzeal directors facing legal action Veritas issues $1 million profit warning, as Nosh struggles More West Coast job cuts if contractor shifts Top 10 New Zealand products that flopped ANZ censured over Fair Trading Act breach involving farmers Auckland Council to pay nearly $24m in Nautilus leaky building case Fisher & Paykel Healthcare posts record full year profit

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.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content