New Zealand vodka company 42 Below has bought a stake in juice maker Charlie's.

The purchase is part of Charlie's funding for its purchase of organic juice and sparkling drinks manufacturer Phoenix Organics.

42 Below has acquired a 4.7% stake in Charlie's for NZ$1.6m (US$1.1m). Charlie's NZ$10m purchase of Phoenix, meanwhile, was finalised on Wednesday (22 December). The juice company will take control of the Phoenix brands, as well as Phoenix's west Auckland manufacturing and warehousing facility.

"The companies (Charlie's and 2 Below) have a complete and complementary set of distribution channels, customers and products and discussions on utilising these are encouraging and ongoing," Charlie's chief executive Stefan Lepionka told local press yesterday.

"Charlie's coverage of cafes and the route trade through the Phoenix Organics acquisition is attractive to us and a lot of juice is sold through restaurants and bars - not only in a 42 Below cocktail," 42 Below chief executive Geoff Ross added.

Looking back at the past year, Lepionka noted: "We've launched a whole new range of Charlie's smoothies, added new products and sizes to our juice range, run a new, controversial advertising campaign and bought a fantastic company."