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November 30, 2018 Corporate Announcements & Other

Strategic review bears fruit

SPC Managing Director Reg Weine today welcomed the outcome of the SPC strategic review by Coca-Cola Amatil, saying SPC had a bright future.

Coca-Cola Amatil has formally announced its intention to sell SPC following a strategic review of the business.

“We are confident in the future of SPC. We have iconic brands, an innovative product range, loyal customers and good access to domestic and international markets,” Mr Weine said.

“We have a great team in Shepparton, Kyabram and Richmond, and we’ve benefitted from a strong relationship with Coca-Cola Amatil since 2005. We are supported by 5th generation growers of deciduous fruit in the heart of the Goulburn Valley, Australia’s renowned fruit growing region.

“As I said in August, we’re proud of our achievements, and there’s a bright future ahead of us in growing SPC’s brands and markets.”

Mr Weine said the $100 million co-investment program by Amatil and the Victorian Government over the last four years has modernised SPC’s tomato and snack cup production and introduced a new aseptic fruit processing system and pouch line at the Shepparton site.

Investment under this agreement was completed in June 2018 comprising $22m from the Victorian Government and $78m from Coca-Cola Amatil.

During this time SPC also expanded its export range through a partnership with China State Farms Agriculture Holdings Shanghai Corporation. SPC has been in international markets for more than 50 years, including in New Zealand, USA, UK, Europe, Southeast Asia, Japan and the Middle East. Export sales across ten countries currently comprise around 10 per cent of SPC earnings.

Recent SPC achievements include:

  • Growing market share in tomatoes, baked beans & spaghetti
  • Entering the functional food category with world first innovation of ProVital™
  • Significant capital investment in a new high-speed snack line, new tomato processing line,  aseptic processing technology, new pouch line and high care facility and automation.

 

For media enquiries, please contact:

Patrick Low (Coca-Cola Amatil)

e. patrick.low@ccamatil.com

p. 0447 121 838