Investment firm Rangatira has taken a half-stake Mrs Higgins Cookies, one of the country's best known biscuit makers.
It has paid an undisclosed sum for a stake in the American-style cookie manufacturer. Current owners Markus and Bronwyn Hasler will retain the balance.
Mr Hasler said the money would be used to fund a new manufacturing facility in Auckland due to open early next year.
He said Rangatira had approached them about buying into the company.
"They're interested in buying iconic Kiwi brands and growing them and they've bought us at a fantastic time - we're just on the springboard to expand with our new factory.
"It was a smart move of theirs and very timely for us," Mr Hasler said.
Rangatira Investments chairman David Pilkington said the firm was pleased to invest in a successful local food enterprise.
"We envisage rapid growth for the company through this partnership."
Rangatira Investments is controlled by a group of charities, including the J.R. McKenzie Trust.
Its investments include small goods maker Hellers, Rainbow's End theme park in Auckland and the Polynesian Spa in Rotorua.