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A private Australian firm has bought a majority stake in the famous Kiwi peanut butter firm Pic’s – a multimillion-dollar deal hailed by the man who formed the company with the help of a concrete mixer 18 years ago.
The hugely successful Nelson-based company is now 51.3 per cent owned by Melbourne-based Scalzo Foods, a family owned food and ingredient supply business that started almost 50 years ago.
“It’s been a fantastic ride,” says Pic Picot, the Kiwi entrepreneur who still holds 42.4 per cent of the company and will continue to be fully involved in the business as brand ambassador.
NZ Herald
