A private Australian firm has bought a majority stake in the famous Kiwi peanut butter firm Pic’s.

The hugely successful Nelson-based company is now 51.3 percent owned by Melbourne-based Scalzo Foods, with founder Pic Picot keeping the rest.

Picot says he's happy with this move, as the company needs the extra money.

"We have big plans and we were getting sort of stuck with a bit too much debt - and I'm ready to do other things."

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A private Australian firm has bought a majority stake in the famous Kiwi peanut butter firm Pic’s.
The hugely successful Nelson-based company is now 51.3 percent owned by Melbourne-based Scalzo Foods, with founder Pic Picot keeping the rest.
Picot says he's happy with this move, as the company needs the extra money.
"We have big plans and we were getting sort of stuck with a bit too much debt - and I'm ready to do other things."
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Pic Picot: Pic's Peanut Butter founder on a private Australian firm buying a majority stake in the company

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2f25cf02-ae72-4b29-bc19-b344006abe38/transcript