A $3 million factory is being opened in South Auckland today as chilled food producer Pitango increases production and looks to boost exports.
The company was founded in 2002 by Israeli immigrants Yasmin and Ofer Shenhav, before being sold into private equity ownership in 2008 and then going into receivership in late 2012 when its Australian parent Gourmet Food Holdings hit trouble.
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At the time, Gourmet Food Holdings was reported to be owing millions to creditors, including around A$50 million ($62 million) to National Australia Bank.
Pitango was then bought out of receivership by Sydney-based food manufacturer Beak and Johnston, which pumped in $1 million to keep the brand going, before investing a further $3 million into the Wiri factory.