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42 Below founders behind new IPO

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, March 26 NZPA - The founders of vodka company 42 Below will shortly launch an initial public offer (IPO) to raise funds to develop their home fragrance business Ecoya, the National Business Review reported.

Grant Baker, Geoff Ross and Stephen Sinclair, have previously targeted high net worth individuals for a limited partnership investment company called Business Bakery LP.

Since exiting 42 Below through a sale to Bacardi, the trio have invested in mobile marketing company The Hyperfactory and Australian fragrance and candle business Ecoya.

NBR said they would soon launch an IPO to raise $10 million to fund international expansion of Ecoya.

Air New Zealand chief executive Rob Fyfe and Australia-based fashion designer Collette Dinnigan recently accepted invitations to join the board of Ecoya.

Ecoya creates home fragrance and body care products using natural bases.

It was founded by a family which escaped to Australia from Hungary soon after World War 2, according to its website.

Its major stockists include Australian department store chain David Jones.

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