SPC emerges with $111 million to fund manufacturing growth

Diverse food producer SPC Global has completed a capitalisation program which resulted in the injection of $111 million earmarked for its next phase of growth.

The capital is a combination of equity investments by The Australian Meat Industry Superannuation Trust (AMIST), the family office of Khalil (‘Charlie’) Shahin AO, and the sale and leaseback of the flagship SPC property in Shepparton in Victoria (pictured).

SPC CEO Robert Giles said the company was committed to ensuring the long term viability of food manufacturing in Australia.

Giles said: “In line with our vision for continued growth, we are doing all we can to highlight Australian food and beverages internationally.

“Local partnerships like these make our mission possible. SPC has an aggressive expansion plan that includes launching new products in existing and new categories, as well as acquisition plans in Australia and overseas.

“We are already in talks with a few parties, and expect to complete a key acquisition during 2022.”

As part of the recapitalisation Murray Rutherford and Charlie Shahin will join the SPC Global board.

Rutherford is CEO of AMIST and Charlie Shahin AO is the Managing Director of Peregrine Corporation which has food, farming and service station revenues of around $2.9 Billion.

Peregrine is one of the Top 10 private companies in Australia and is the largest private company in South Australia.

Shahin said: “In assessing this investment opportunity, I saw the benefits of partnering with a highly reputable Australian-owned and run business.

“Our investment is a vote of confidence for SPC’s management and strategic plans, particularly the expansion of its Australian and global footprint, with the aim of replacing imports wherever possible.

“The SPC journey is one that I look forward to being part of.”

Rutherford said he was delighted to invest in the turnaround of an iconic Australian business as SPC.

SPC’s vision is to elevate the organisation’s family of brands internationally, while ensuring premium quality Australian goods remain available on home soil.

Picture: SPC Global/Shepparton headquarters

Subscribe to our free @AuManufacturing newsletter here.

Share this Story

Stay Informed

Go to Top