SPC Australia

SPC Global Limited
FormerlySPC Ardmona
Predecessors
  • Shepparton Preserving Company
  • Ardmona
Founded1917; 107 years ago (1917)
ParentSPC Global Limited (2019-current)

SPC Global Limited, formerly SPC Ardmona, is an Australian-based global agribusiness that specialises in food manufacturing, in particular large fruit processing and packing and owns and operates a factory in Shepparton and is one of the biggest employers in the Goulburn Valley region.

History

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Started in 1917 by a group of fruit growers in Victoria's Goulburn Valley as a cooperative which they named the Shepparton Fruit Preserving Co. Ltd. The company began operations in February 1918, canning pears, peaches and nectarines under the brand name of SPC. SPC was incorporated as a public listed company in 1912, and Ardmona opened in 1921.[1]

SPC Ardmona was formed in 2002 by the merger of the former Shepparton Preserving Company (SPC) and Ardmona.[1]

SPC Ardmona was bought by Coca-Cola Amatil in 2005 for A$750 million.[2] In that time, CCA had also invested about A$250 million in infrastructure, and the Victorian government had provided A$22 million in co-investment.[3]

It acquired IXL and Taylors brands in 2004,.[4] SPCA closed its Mooroopna processing plant in 2011 and its Kyabram factory was sold in 2019.[5] Coca-Cola Amatil sold SPC in 2019 for A$40 million to Shepparton Partners Collective, now known as SPC Global Limited[6] who implemented strategies for global growth.[7]

SPC Global carries the SPC, Goulburn Valley, Ardmona, Provital, Pomlife and Helping Humans brands.

In August 2021, SPC Global mandated COVID-19 vaccinations for all staff, contractors, and visitors becoming the first Australian company to mandate vaccines for all onsite staff and visitors.[8]

Currently, Hussein Rifai is the Chairman of the company. Since 2023, Neil Brimacombe is CEO.[9]

In 2024 SPC has agreed to merge with the Original Juice Company and Nature One Dairy.[10]

Former Financial problems

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SPC Ardmona lost $25 million in 2013, compared to a $70 million profit 8 years earlier. In 2012, SPCA disposed $100 million of fruit bought under contract because it could not be sold, blaming it on "plummeting" local and export orders.[11] A former Coca-Cola Asia executive, Peter Kelly, went to the company in April 2013 to attempt to turn it around.[11]

In October 2013, SPCA sought A$50 million financial assistance from the Federal and Victorian governments to modernise its operation. It wanted the Victorian Government to match the Federal grant.[12] In early 2014, SPCA sought $25 million of Federal government assistance as part of a plan to upgrade the Shepparton cannery which was rejected.[13] Shortly afterwards however, the Victorian Government announced that $22 million would be provided.[14]

In November 2016, Woolworths ended its contract with SPCA for the supply of tinned tomatoes and would not renew it. However, the five-year deal to provide tinned fruit was ongoing.[15]

Turnaround & Growth

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In June 2019, it was announced that Coca-Cola Amatil had sold the SPC business to a group called Shepparton Partners Collective, now known as SPC Global Limited, for $40 million. Shepparton Partners Collective was a joint venture between Perma Funds Management, a boutique investment house, and The Eights, a private equity firm. The sale was subject to a four-year deferred payment which, subject to business performance, could generate a further $15 million for Coca-Cola on top of the money paid up-front.[16] As part of the turnaround strategy, the business sold the IXL and Taylors brands with the Kyabram factory in 2019 to a group of farmers and growers in the Goulburn Valley.[17]

In 2021, SPC introduced the manufacturing and distribution of healthy beverages through its new acquisitions of the brand, Helping Humans, and ready to eat meals through, the Kuisine Co. and The Good Meal Co.

In the 2020-21 Financial Year, SPC reported a consolidated profit after tax of AUD 11.8 million. In 2021-22 it returned a consolidated profit after tax of AUD 24 million.[9]

SPC Football Club

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The SPC Football Club won the 1945 Goulburn Valley Football Association – Lightning Premiership which was held on the King's Birthday public holiday.[18]

SPC were runners up to Shepparton East in the 1945 Goulburn Valley Football Association grand final.[19]

SPC defeated Numurkah in the 1948 Central Goulburn Valley Football League's seconds grand final.[20][21] and in 1949 SPC were defeated by Shepparton in the 1949 Central Goulburn Valley Football League's senior football grand final.[22][23]

SPC merged with Shepparton East in 1950 to form City United, later named the Shepparton United Football Club and entered a senior team in Goulburn Valley Football League.

SPC Brands

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  • SPC
  • Ardmona
  • Goulburn Valley
  • SPC ProVital
  • Street Eats
  • Pomlife
  • The Good Meal Co
  • Nature One Dairy
  • Original Juice Company

References

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  1. ^ a b "Our Rich History". SPC Ardmona. 25 February 2006. Retrieved 11 March 2014.
  2. ^ "UPDATE 1-Australia's Coca-Cola Amatil says open to sale of packaging unit SPC". Reuters. 22 August 2018. Retrieved 9 May 2023.
  3. ^ Gray, Darren (4 June 2019). "Coca-Cola Amatil to sell historic SPC business for $40 million". The Sydney Morning Herald. Retrieved 5 March 2020.
  4. ^ "SPC to acquire IXL for $51 m". The Age. www.theage.com.au. 12 May 2004. Retrieved 11 March 2014.
  5. ^ Mitchell, Sue (1 May 2013). "Canning not so peachy". The Land. Retrieved 21 December 2013.
  6. ^ "Coca-Cola Amatil sells SPC for $40m". Australian Financial Review. 3 June 2019. Retrieved 9 May 2023.
  7. ^ https://www.theaustralian.com.au/business/how-spc-went-from-basket-case-to-grocery-darling-and-back-to-making-money/news-story/bf6ee22e6321c7a7580b705c1d76d8ef [bare URL]
  8. ^ Morgan, Henrietta Cook, Dominic Powell, Cassandra (5 August 2021). "Australian workplaces set to follow SPC's move on mandatory jabs". The Sydney Morning Herald. Retrieved 9 May 2023.{{cite web}}: CS1 maint: multiple names: authors list (link)
  9. ^ a b McCubbing, Gus (11 August 2023). "New SPC boss wants a fair go for his baked beans". Retrieved 17 November 2023.
  10. ^ https://www.abc.net.au/article/104421106
  11. ^ a b Neales, Sue (5 October 2013). "Without a $25m pledge, SPC 'risks going under". The Australian. Retrieved 21 December 2013.
  12. ^ Heath, Joanna (20 December 2013). "SPC rattles the can". The Land. Retrieved 21 December 2013.
  13. ^ Packham, Ben. "Abbott government rejects aid package for SPC Ardmona". The Australian. Retrieved 7 February 2014.
  14. ^ Whittaker, Jarrod (11 March 2014). "$22m lifeline for SPC Ardmona". Shepparton News. Retrieved 13 February 2014.
  15. ^ Guardian Staff; agencies (8 November 2016). "Woolworths walks away from SPC Ardmona deal on tinned tomatoes". The Guardian. ISSN 0261-3077. Retrieved 5 January 2017.
  16. ^ Gray, Darren (4 June 2019). "Coca-Cola Amatil to sell historic SPC business for $40 million". The Age. Retrieved 4 June 2019.
  17. ^ Robinson, Wayne (23 October 2019). "SPC succeeds with IXL and Kyabram factory sale". Food & Drink Business. Retrieved 5 March 2020.
  18. ^ "1945 - GVFA - Lightning Premiership". Shepparton Advertiser. 25 January 1945. p. 8. Retrieved 20 July 2020 – via Trove Newspapers.
  19. ^ "1945 - Goulburn Valley FA - Grand Final match review". Shepparton Advertiser. 25 September 1945. p. 5. Retrieved 20 July 2020 – via Trove Newspapers.
  20. ^ "1948 - Central Goulburn Valley FL - Seconds Grand Final Teams". Shepparton Advertiser. 1 October 1948. p. 2. Retrieved 12 August 2020 – via Trove Newspapers.
  21. ^ "1948 - Central Goulburn Valley FA - Grand Final match review". Shepparton Advertiser. 5 October 1948. p. 2. Retrieved 12 August 2020 – via Trove Newspapers.
  22. ^ "1949 - CGVFL - Grand Final Match Preview / Teams". Shepparton Advertiser. 16 September 1949. p. 4. Retrieved 22 July 2020 – via Trove Newspapers.
  23. ^ "1949 - CGVFL - Grand Final match review". Shepparton Advertiser. 20 September 1949. p. 2. Retrieved 22 July 2020 – via Trove Newspapers.
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