COCA-COLA Amatil has announced it will be moving towards the sale of SPC following the conclusion of the strategic review.
Group managing director, Alison Watkins said the review had identified significant strengths in the SPC business, and there was strong market interest in exploring a possible sale.
“We believe there are many opportunities for growth in SPC, including new products and markets, further efficiency improvements, and leveraging technology and intellectual property,” Ms Watkins said.
“The review has concluded that the best way to unlock these opportunities is through divestment, enabling SPC to maximise its potential with the benefit of the recent $100M co-investment, while Amatil sharpens its focus as a beverages powerhouse.
“There are no plans to close SPC. We see a positive future for the company as it continues to transform its operations.”
Ms Watkins said Amatil would develop a divestment timeline and process over coming months, but that it was business as usual for the SPC team at Shepparton and Kyabram and for the production of SPC’s world-class product range.
The IXL and Taylor’s brands will remain with SPC following the announcement on November 21 that an expected sale to Kyabram Conserves Pty Ltd is no longer proceeding.
SPC managing director, Reg Weine welcomed the outcome of the SPC strategic review by Coca-Cola Amatil, saying SPC had a bright future.
“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.”
