Global fruit and vegetable manufacturer SPC will merge with Australian brand the Original Juice Company. The announcement was made to the Australian Stock Exchange on Wednesday and the statement said the merger was expected to deliver $400 million in revenue in the next financial year. SPC is a major Australian brand that has been operating for over 100 years. It is known for producing baked beans, tinned spaghetti and fruit, apple sauce and crushed tomato.
The merger will also include powdered milk business Nature One Dairy, which makes products sold in Asia and Australia. Original Juice Company shareholders will be asked to approved the move at the general meeting in November. Former Victorian premier Jeff Kennett is the outgoing president of the the Original Juice Company. “The agriculture industry is a core pillar of our national identity in Australia and the backbone of many regional towns across the country,” he said in the ASX statement.