Maketu Pies will continue to fill pie warmers across the country with a successful sale made this week.

Te Arawa Management Ltd (TAML) has purchased the iconic Bay of Plenty business which is the commercial subsidiary of the Te Arawa Lakes Trust.

The trust purchased Maketu Pies after the business went into receivership earlier this month and to keep the company in local ownership.

Te Arawa Lakes Trust chairman Taa (Sir) Toby Curtis said the purchase was "simply the right fit" for the subsidiary and its role in supporting the future growth of Te Arawa, its assets and whānau.

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"Just as importantly, the decision is about ensuring Maketu Pies stays in local hands, rather than heading offshore or away from the Bay of Plenty.

"As a result, we can ensure that it will continue to support the local economy."

Maketu Pies has been bought by Te Arawa Lakes Trust. Photo / File
Maketu Pies has been bought by Te Arawa Lakes Trust. Photo / File

Te Arawa Lakes Trust was established in 2007 following the settlement with the Crown to return 14 lakebeds in the Rotorua area to Te Arawa. It succeeded the Te Arawa Māori Trust Board.

The Te Arawa waka landed in Maketū and it forms the basis of many important stories for iwi.

"Our role is to maintain and grow our assets – and diversify our asset base – so that we can support our people and our lakes long into the future," Taa Toby said.

"Maketū is a specal part of the Te Arawa rohe, which we define as Mai Maketū ki Tongariro (from Maketū to Tongariro)."

TAML commercial manager Cassandra Crowley said while TAML has a cultural responsibility its ultimate mandate is to derive commercial benefit for Te Arawa.

Crowley said TAML will be looking for opportunities to solidify and develop Maketu Pies, including exploring potential partnerships with other businesses and organisations that could benefit the operation, and the local community.

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"We're really excited about this development and what it could mean for Maketu Pies, our people and wider Te Arawa.

"And it goes without saying that we're particularly pleased that New Zealanders and manuhiri (visitors) alike will still be able to get their favourite Maketu Pie at corner shops, supermarkets and service stations across the country."