IN A move to bolster food manufacturing in Australia, iconic Shepparton-based food company SPC will merge with the Original Juice Company and Nature One Dairy.
The Original Juice Company (OJC) will acquire SPC Global, and the powdered milk business owned by Nature One Dairy via a binding Merger Implementation Deed and Share Sale Agreements, subject to several conditions including approval by OJC shareholders in November 2024.
SPC director and former Asahi Beverages Group CEO Robert Iervasi has been appointed managing director of the merged business, which will own and operate three business divisions, namely SPC, OJC and Nature One Dairy.
Together the three businesses aim to create a substantial Australian based and owned global food and beverage companies that will continue to support Australian producers and execute on a global growth strategy.
“SPC Global is excited to be joining with OJB and Nature One Dairy and come to market with a leading food and beverage platform. With out market leading package fruit, canned tomatoes, and baked bean products, we are excited to expand with OJC both domestically and globally and see significant synergy potential in bringing the two producers together,” said Mr Iervasi.
“Proud of our 100-plus year history and our Shepparton roots. SPC looks forward to working with the OJC team to accelerate growth and leveraging the combined platform to enhance distribution of our products. The addition of Nature One Dairy also allows us to diversify and reach more consumers every day through our international channels.”
SPC Global chairman and chair of the merged company, Hussein Rifai, said the transaction for a critical step in advancing the global strategy that has guided SPC since its divestment from Coca-Cola Amatil (CCA).
“It aligns with SPC’s long-term vision of transforming SPC into a global leader in the food and beverage sector,” he said. “Since acquiring SPC from CCA, our strategy has been to firmly establish ourselves as a leader in both the Australian and global markets. Building a strong foundation in our home market is vital for sustainable growth and success.”
“Our immediate focus is on solidifying SPC’s position as a domestic market leader. This is the essential first step before executing our broader global strategy, which targets key international markets, particularly in Asia, where we see significant growth opportunities,” Mr Rifai said.
The combined business is expected to deliver more than $400M of revenue and more than $29M of earnings before interest, taxes, depreciation and amortization (EBITDA) in the 2025 financial year.
