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."
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With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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/5d005479-a672-4bb6-9040-b344006abc35/transcript