Scales Corporation has taken a slice of Turners & Growers.
Scales has 5.95% of the company after buying ACC's shareholding for $1.90 per share.
Turners & Growers is currently subject to a $216 million takeover offer from BayWa of Germany, which has acceptances giving it 76% of the company.
Scales says it has no intention of making a competing offer for the company and it supports Turners & Growers remaining listed.
But the company says it's interested in exploring whether there are opportunities for industry consolidation and better returns.
Scales Corporation was once a subsidiary of South Canterbury Finance, and is now 80% owned by Direct Capital Investments.
It also owns Mr Apple, New Zealand's largest apple grower and exporter.