1
00:00:00,080 --> 00:00:02,240
Speaker 1: Here's some good news. It's all on for our international

2
00:00:02,240 --> 00:00:04,640
Speaker 1: interest in buying great New Zealand businesses. At the minute.

3
00:00:04,800 --> 00:00:07,400
Speaker 1: Picks Peanut Butter is the latest. It is now fifty

4
00:00:07,440 --> 00:00:10,240
Speaker 1: one point three percent owned by a Melbourne firm. The

5
00:00:10,240 --> 00:00:12,239
Speaker 1: business has found a pic Pea Coast still holds a

6
00:00:12,280 --> 00:00:16,920
Speaker 1: minority stake and is with us hat pick great, Hell, congratulations,

7
00:00:17,640 --> 00:00:20,560
Speaker 1: well thank you. Why do you sell the majority though?

8
00:00:20,640 --> 00:00:25,720
Speaker 2: Pick? Well, because we needed the money and and so

9
00:00:25,840 --> 00:00:28,520
Speaker 2: we had we had big plans and we were getting

10
00:00:28,560 --> 00:00:31,200
Speaker 2: sort of stuck with sort of a bit too much debt,

11
00:00:31,640 --> 00:00:35,880
Speaker 2: and you know, I'm ready to do other things like well,

12
00:00:36,000 --> 00:00:39,720
Speaker 2: I'm very happy to continue. Oh I'm doing, I'm doing.

13
00:00:40,520 --> 00:00:43,120
Speaker 2: I'm doing marketing stuff. So I get out in Caspabias

14
00:00:43,159 --> 00:00:45,040
Speaker 2: and go to food shows and meet people, which is

15
00:00:45,080 --> 00:00:47,200
Speaker 2: what I like, and force them to eat peanut butter.

16
00:00:47,640 --> 00:00:49,560
Speaker 2: And then I've got this beautiful bit of land out

17
00:00:49,560 --> 00:00:52,440
Speaker 2: here at Materaho where i am tonight in the gorgeous evening,

18
00:00:52,960 --> 00:00:55,440
Speaker 2: and I'm planting trees and looking after a bit of

19
00:00:55,440 --> 00:00:57,800
Speaker 2: wetland and fixing up an old house and doing you know,

20
00:00:57,920 --> 00:00:58,760
Speaker 2: sort of cool stuff.

21
00:00:58,880 --> 00:00:59,760
Speaker 1: Oh that's fantastic.

22
00:01:00,640 --> 00:01:02,320
Speaker 2: Yeah, I'm doing all the good stuff.

23
00:01:02,560 --> 00:01:04,920
Speaker 1: So I mean, if you to sell the majority, though,

24
00:01:04,959 --> 00:01:07,440
Speaker 1: you'd have to have fair confidence that these guys are

25
00:01:07,440 --> 00:01:09,440
Speaker 1: going to keep on going with the good stuff that

26
00:01:09,480 --> 00:01:10,880
Speaker 1: makes your brand your brand.

27
00:01:10,720 --> 00:01:14,520
Speaker 2: Right, absolutely, And I think we've been very lucky and

28
00:01:14,640 --> 00:01:18,559
Speaker 2: coming across Scalzough because they well they started off really

29
00:01:18,880 --> 00:01:21,280
Speaker 2: we started talking to them and we were having sort

30
00:01:21,280 --> 00:01:23,280
Speaker 2: of issues sort of getting hold of our peanuts. So

31
00:01:24,720 --> 00:01:26,360
Speaker 2: I don't know if you heard, but the Peanut Company

32
00:01:26,400 --> 00:01:29,040
Speaker 2: of Australia, where we used to source all our peanuts from,

33
00:01:30,240 --> 00:01:34,520
Speaker 2: was sold to a competitor to Begger in Australia, and

34
00:01:34,560 --> 00:01:38,560
Speaker 2: then the volumes of nuts kept dropping as the land

35
00:01:38,640 --> 00:01:42,880
Speaker 2: started drying out. And then about six weeks ago the

36
00:01:43,959 --> 00:01:47,319
Speaker 2: Peanut Company of Australia folded and the had been going

37
00:01:47,319 --> 00:01:49,920
Speaker 2: for one hundred and twenty odd years and so it

38
00:01:50,040 --> 00:01:57,080
Speaker 2: suddenly closed. And there's you know, all our people in Kingaroy,

39
00:01:57,680 --> 00:02:01,280
Speaker 2: they're all all unemployed and looking for something else to do.

40
00:02:01,400 --> 00:02:03,760
Speaker 2: So we've been really lucky. You've got really good timing

41
00:02:03,760 --> 00:02:07,480
Speaker 2: because Scales I've got such very cool international relationships, so

42
00:02:07,560 --> 00:02:10,359
Speaker 2: they were a very big peanut buyer and so they

43
00:02:10,360 --> 00:02:14,480
Speaker 2: can get really good deals on the top quality peanuts,

44
00:02:14,480 --> 00:02:17,600
Speaker 2: which is what we love. And it's been really it's

45
00:02:17,600 --> 00:02:20,480
Speaker 2: been really useful. And they've also they've also brought with

46
00:02:20,560 --> 00:02:23,720
Speaker 2: them a heap of skills, you know, technical skills and

47
00:02:24,280 --> 00:02:27,840
Speaker 2: management's abilities. Are just good, good people. They've been around

48
00:02:27,880 --> 00:02:29,520
Speaker 2: for a long time and most of their staff have

49
00:02:29,560 --> 00:02:32,440
Speaker 2: been there for fifteen twenty years. It's fantastic.

50
00:02:32,600 --> 00:02:34,440
Speaker 1: Oh that's brilliant. And listen, I'm stoked that you're going

51
00:02:34,480 --> 00:02:36,360
Speaker 1: to have a good time planting your trees. Enjoy that.

52
00:02:36,400 --> 00:02:37,960
Speaker 1: I can't imagine how much fun that is. I'd love

53
00:02:37,960 --> 00:02:40,240
Speaker 1: to be able to do it. Let's pick peecoat for

54
00:02:40,360 --> 00:02:43,600
Speaker 1: more from Hither Duplessy Allen Drive. Listen live to news

55
00:02:43,680 --> 00:02:46,560
Speaker 1: talks it'd be from four pm weekdays, or follow the

56
00:02:46,600 --> 00:02:48,280
Speaker 1: podcast on iHeartRadio.