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Coca-Cola Amatil (CCA), one of the largest bottlers of non-alcoholic ready-to-drink beverages in the Asia-Pacific region, has announced it has reached a deal to sell the SPC fruit and vegetable processing business to Shepparton Partners, a joint venture between Perma Funds Management and The Eights, for A$40 million ($28 million).
CCA originally announced it was putting its SPC unit up for sale last August.
Commenting on the deal, CCA group managing director Alison Watkins said “Shepparton Partners Collective had the right combination of commercial experience, funding support and confidence in the future of SPC. This outcome is good news for SPC and good news for the Goulburn Valley”.
Shepparton Partners Collective had the right combination of commercial experience, funding support and confidence in the future of SPC, she said.
SPC managing director Reg Weine added: “In recent years we’ve grown our market share in tomatoes and we recently launched Australia’s first organic canned tomato. Our award-winning functional food range – ProVital™ continues to grow and gain support with dieticians and our enhanced processing and automation capability has opened up new export markets. We’re proud of those achievements and we’re confident we can do more”.
Source: CCA
