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

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.

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.

Newshub.