Cannery back on the stock exchange as SPC Global

Iconic Australian food manufacturer SPC has returned to the Australian Securities Exchange (ASX) after a 20-year absence, but this time as more than a food canner – the company is now SPC Global.

Managing Director Robert Iervasi took to social media and said: “Today marks a massive milestone for SPC Global and each of our Business Divisions – SPC, The Original Juice Co Limited, Nature One Dairy and Natural Ingredients.

“We are now a market leading agri-food and beverage company, celebrating Australian manufacture and taking pride in our iconic brands.

“A massive thank you to everyone involved in making today a possibility, including our staff, advisors, customers and partners, as well as the ASX for the support provided during this process.”

Iervasi and SPC Global Chairman Hussein Rifai (pictured) were on hand to ring the bell to open trading at 10am in Sydney yesterday.

At the end of the day the company’s shares were trading at $1.09, down 17 percent, valuing the company at $253.8 million.

This is a far cry from 2005 when Coca-Cola Amatil bought the then SPC Ardmona business for $750 million.

The Shepparton Preserving Company (SPC) was incorporated as a public listed company in 1912, merging with Ardmona in 2002.

Since CCA lost its shirt on the brand, the company has been searching for an identity as more than a canner of fruit.

This saw it branch out into supplying meals to hospitals and retirement homes, and its successful combination of SPC, The Original Juice Company and Nature One Dairy as SPC Global, and the subsequent acquisition of Natural Ingredients, a leading supplier of frozen fruits, vegetables, purees, juices, dried fruit, and IQF (Individually Quick Frozen) products.

According to a statement: “The merger has significantly enhanced the company’s scale and unlocks domestic and international growth opportunities, positioning SPC Global as a key player in the food and beverage sector.

“Australian businesses with household brands that have been in the pantries of Australian families for decades have now merged, to create a market leading Australian food and beverage company with significant scale.”

Picture: SPC Global/Robert Iervasi (left) and Hussein Rifai