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The Original Juice Company (OJC), an Australian-based business that sells chilled fruit and vegetable juices, has announced plans to acquire SPC Global (SPC) and the powdered milk business Nature One Dairy to create a leading food and beverage company.
As part of the transaction, OJC will issue 133 million shares to SPC shareholders, while Nature One Dairy shareholders will get 29 million shares and up to A$6 million ($4 million) in cash.
Nature One Dairy is a Singapore registered, Australian-founded dairy company that manufactures and sells infant formula, nutritional formula and milk powder products.
Commenting on the move, SPC director Robert Iervasi said: “SPC Global is excited to be joining with OJC and Nature One Dairy and come to market with a leading food and beverage platform. With our market leading packaged fruit, canned tomatoes, and baked bean products, we are excited to expand with OJC both domestically and globally and see significant synergy potential in bringing the two producers together”.
The Original Juice Company CEO Steven Cail added: “The strategy has always focused on setting up the business for future growth and synergies, and I am extremely excited about what the future holds for OJC. The OJC team is excited to join the 100-year legacy of SPC and contribute to taking the Combined Business forward in its next phase of success”.
The combined business is projected to generate over A$400 million ($269 million) in revenue and more than A$29 million ($19 million) in EBITDA in the 2025 financial year. The transaction is expected to be completed in November.
Source: SPC
