Well-known canned fruit and vegetable producer SPC is a step closer to building a global empire following a three-way merger with ASX-listed Original Juice Company and powdered milk business Nature One Dairy set to create a $400 million company.
SPC chairman Hussein Rifai and managing director Robert Iervasi will become the new entity’s chairman and global managing director respectively, meaning OJC chairman and former Victorian premier Jeff Kennett will retire. “The next step is to then be looking to our target markets, which is Asia Pacific, and then onto the Middle East, and other parts of the world, Europe and potentially somewhere else.”
SPC, which recently took part in a campaign along with Sanitarium, Norco and Mayvers to push for country of ownership labelling on Australian food products, had to pull back its production of canned fruit by 40 per cent earlier this year due to lower demand for Australian-grown pears and peaches as consumers increasingly opt for cheaper foreign-made items amid cost of living pressures.Loading
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