SPC Coca-Cola review for potential sale

COCA-COLA Amatil announced the commencement of a strategic review of growth options for SPC last week, which is hoped to see the company continue to thrive into the future, but said this could be potentially done through the sale or a merger of the business.

Coca-Cola Amatil group managing director, Alison Watkins said the review coincides with the completion of a four-year, $100M co-investment in SPC in conjunction with the Victorian Government.

“With this investment, we kept SPC operating, invested in modernising the plant and created new business opportunities,” Ms Watkins said.

“These included new tomato and high-speed snack lines, a new aseptic fruit processing system and new export opportunities including China, all of which will support ongoing growth.

“The co-investment is complete, and now is the right time to consider options for the business.

“We believe there are many opportunities for growth in SPC, including new products and markets, further efficiency improvements and technology and intellectual property. The review will look at how this growth could be unlocked, potentially through a change in ownership, alliances or mergers.

“We see a positive future for SPC as it continues to transform its operations.”

SPC managing director, Reg Weine said, “I was in Shepparton last week speaking with our people and local stakeholders about the strategic review announcement.

“They’re really positive as they should be, there are lots of achievements to be proud of at SPC.

“We thank the dedicated team at SPC for their efforts to date in transforming the business and we’ll keep them updated as the review progresses,” Mr Weine said.

“Our focus is very much on how we can expand SPC’s premium product range under the Goulburn Valley brand and increase exports while growing our core portfolio.

“The review gives us the chance to examine these issues and determine if our current internal and ownership structures are best placed to achieve them.

“It’s business as usual as we continue to work together for the best outcome to unlock strategic growth potential for SPC.”