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# Face of the Day
- URL: https://goodoil.news/face-of-the-day-1277/
- Published: 2025-08-25T18:30:29.000Z
- Updated: 2025-08-25T18:30:31.000Z
- Description: The Kiwi entrepreneur still holds 42.4 per cent of the company and will continue to be fully involved in the business as brand ambassador.
- Author: Good Oil Staff
- Tags: Face of the Day

> 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

[Read More](https://www.nzherald.co.nz/nz/the-great-new-zealand-road-trip-australian-firm-buys-majority-shares-in-famous-kiwi-peanut-butter-firm-pics/2WGNM4SMDFGVRMFMS74YQGF2RY/?ref=goodoil.news)