24 Jun 2011

Morgan invests in Ecoya

1:17 pm on 24 June 2011

Trade Me founder Sam Morgan has paid $1 million for a 2.4% stake in luxury scented candle and fragrance firm Ecoya.

Investment vehicle Business Bakery sold 1,250,000 of its Ecoya shares to Mr Morgan's family trust.

The sale reduces the Business Bakery's stake from 59.8% to 57.3%.

Mr Morgan says he's been watching the business, and believes it's a good time to invest in a company with strong growth.