Trust takes stake in cereal company Hubbard

Published: 12:58PM Thursday December 17, 2009 Source: Newstalk ZB

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The Rotorua Energy Charitable Trust has reportedly taken a 35.6% stake Hubbard Foods Ltd for an undisclosed sum.

Rotorua Trust Chairman Grahame Hall says Hubbard stands out as local business that matches the trust's ethics, and provides a satisfactory commercial return.

Hubbard's founder Dick Hubbard says the investment will help the company achieve ambitious long-term growth goals.

The Rotorua Trust was created out of the corporatisation of the Rotorua Electricity Company.

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