Coca-Cola Amatil has announced the sale of its SPC fruit cannery business to a Melbourne-based joint venture for $40 million.
The Australian Financial Review and others report that CCA paid $490 million for Shepparton Preserving Company in 2005. As reported by @AuManufacturing, SPC was put up for sale in November last year following a strategic review.
The local Shepparton News website says the buyer, Shepparton Partners Collective, is a joint venture between Perma Funds Management and The Eights. Perma Funds Management managing director Hussein Rifai said that all permanent employees at the newly-acquired company would keep their jobs.
“We are delighted to have acquired SPC, one of Australia’s most iconic businesses,” Mr Rifai said in an ASX statement.
“We believe there is enormous opportunity to grow this unique 100-year-old brand further domestically and internationally,”
Picture: ABC Rural/Rachel Carbonell
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