More details have been revealed about the new purchaser of Maketū Pies after a lifeline for the business was announced last week.

In a statement today, Montana Group - New Zealand’s largest privately owned catering company - said the pie business would be jointly owned in a new company, with its owners working together to ensure its profits benefited local communities.

Maketū Foods Ltd was placed into voluntary solvent liquidation by its previous owner, Te Arawa Management Ltd, at the end of November.

Maketū Pies has gone into solvent liquidation and the town fears for its closure. Photo / Laura Smith

However, in what the statement described as a “unique and heart-warming move”, the Maketū Pies brand and trademarks would be placed into a new joint venture entity, and licensed back to the production business.

In turn, profits from the new licensing entity would support Te Arawa rangatahi with hospitality and food production training and qualifications.

The development was announced at the Te Arawa Lakes Trust AGM yesterday.

Te Arawa Lakes Trust chairman Geoff Rolleston said the trust was “thrilled” to have found a buyer committed to preserving the mana of Maketū Pies.

”Seeing Maketū Pies move into the hands of a business that values community and heritage as much as we do is incredibly encouraging. Their plans to use the licensing profits for our rangatahi development demonstrate their commitment to giving back and supporting future generations.”

Both parties were excited about working together in the new entity.

”We are confident Maketū Pies will continue to be a source of pride for our local community and nation.”

A Montana Group spokesperson said the company was “thrilled” to add Maketū Pies to its growing operations across the North Island.

”Working closely with local iwi is central to our vision for Maketū Pies. We feel genuinely privileged to become part of this close-knit community and have the opportunity to contribute positively to the local economy.

”Our immediate focus is on ensuring a seamless handover, looking after the existing team and maintaining the high standards that Maketū Pies is known for.”

-Bay of Plenty Times