Hubbards Foods is not going to be sold.
For the past three months the company has been testing the water with a number of suitors to a tune rumoured to be between $30-40million.
Former Auckland Mayor and chairman Dick Hubbard started the brand in 1988.
He says it would have been too painful a decision to make such a final separation with the company.
Hubbard says due to confidentiality agreements he is unable to say who was looking at the business, or what they were offering.