Iconic Aussie food brand SPC reveals its next move
An iconic Aussie brand has revealed a major merger with two other companies as it plans its next move.
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One of Australia’s most iconic brands food brands is merging with one of the nation’s most popular juice companies and a dairy business.
SPC has been around for more than 100 years and is one of Australia’s largest producers of tinned tomatoes, baked beans, tinned spaghetti and fruit.
It announced on ASX, that it would be merging with The Original Juice Company and Nature One Dairy, a Singaporean business that makes baby formula.
The merger is expected to grow the juice company’s product base to offer more health conscious food and drinks.
Acquiring the Singaporean dairy business will help SPC expand into Asian markets.
Former Victorian premier Jeff Kennett will retire from his position as chairman of the juice company.
He said the agriculture industry was a core pillar of Australia’s national identity and the backbone of many regional towns.
“We should be supporting businesses like The Original Juice Company, SPC and NOD to continue to thrive in their mission to support local growers, employ Australians in our processing plants and produce iconic health products for consumers, both in Australia and abroad.
“I am excited about the combined businesses.”
SPC chairman Hussein Rifai said their goal was to create better, healthier food for the future.
“Since acquiring SCP from Coca Cola, our strategy has been to firmly establish ourselves as a leader in both the Australian and global markets,” he said.
“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.”
Originally published as Iconic Aussie food brand SPC reveals its next move
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