SPC, the century-old agribusiness group that began life as a farmer co-operative in regional Victoria, will join the ASX with a reverse takeover of Original Juice Co and buy a dairy business to create an Australian consumer goods heavyweight.

The transaction, first reported by The Australian Financial Review’s Street Talk column last month, will create a food and drink group with annual revenues of $400 million this year and return SPC to the ASX, from where it delisted in 2005.