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Chocolate company pledge raises more than $1m in a day

Newshub logoNewshub 13/11/2017 Newshub staff
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Investors with a sweet tooth have been quick to take a bite out of a Dunedin-based chocolate company.  

An online pledge drive to buy the Ocho premium chocolate factory went live on Monday morning and has already passed $1.2 million.

The PledgeMe campaign raised $700,000 in less than three hours this morning and they're well on track to meet the $1.8m needed over the next month for a buy-out to go ahead.

The campaign to buy out the chocolate company was begun in response to plans to close the Dunedin Cadbury Factory, which employs 360 people.

An online pledge drive to buy the Ocho premium chocolate factory has already passed $1.2 million. © Newshub. An online pledge drive to buy the Ocho premium chocolate factory has already passed $1.2 million. A group of volunteers tried to take over production for the factory to keep the manufacturing local, but their attempt was unsuccessful. 

The Ocho initiative is intended to develop a model for community business ownership, contributing to regional development.

The shares come with a sweetener - a 20 percent discount on craft chocolate for life.

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