The founding shareholders of successful vodka company 42 Below have bought a 19% stake in the struggling finance firm Dorchester.
The shareholding bought by directors Geoff Ross, Grant Baker and Stephen Sinclair, through their investment company The Business Bakery, is just short of the takeover threshold.
In total, they paid $400,000 for the shares, at 5.6 cents a share, a discount of 18% against Dorchester's average market share price over the last 30 days.
One of the The Business Bakery's partners, Grant Baker, says while Dorchester has had some challenges, it could do better with more capital.
Dorchester is in the process of paying investors the $172 million they're owed, and in May said it was on track to meet repayments to investors in September.
Mr Baker says The Business Bakery would like to invest more in Dorchester but it's too early to say what form that will take.
