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Wellington businessman Tony Kerridge has bought a 4.4 per cent shareholding in juice company Charlie's Group from vodka company 42 Below Ltd.
Mr Kerridge recently sold his investment in boutique coffee house Caffe L'affare to international food and beverages group Cerebos Greggs.
"I have followed the Charlie's story for some time and have been very impressed with the company's market penetration, brands and unique marketing," he said in a statement today.
"I am very keen to actively invest in New Zealand success stories and the Charlie's and Phoenix brands are an excellent opportunity for me."
Charlie's bought Phoenix Organics, which produces a range of organic juices and sparkling drinks, for $10 million.
42 Below "chief vodka bloke" Geoff Ross said the sale of the Charlie's shareholding reflected his company's focus on the premium alcoholic beverage market.
His company is the target of a $139 million takeover bid by Bacardi Ltd.
Charlie's has 287 million shares on issue. Around noon today they were trading at 15.8c, an increase of 0.4c, making Mr Kerridge's shareholding worth about $2 million.
- NZPA
