The company has secured the funding from new investors including a superannuation trust.
SPC chairman Hussein Rifai has announced two additions to the SPC board, Murray Rutherford and Charlie Shahin.
“Their vast knowledge and experience in the food industry will contribute immensely to the growth of SPC,” Mr Rifai said.
SPC chief executive officer Robert Giles said expansion plans included launching new products in existing and new categories, as well as acquisition plans in Australia and overseas.
“We are already in talks with a few parties, and expect to complete a key acquisition during 2022,” Mr Giles said.
The new growth capital is a combination of equity investments by The Australian Meat Industry Superannuation Trust (AMIST); the family office of Mr Khalil (`Charlie’) Shahin, managing director of Peregrine Corporation; and the sale and lease-back of the flagship SPC property in Shepparton to Charter Hall.
AMIST chief executive and investment officer Murray Rutherford said AMIST was delighted to invest in such an iconic Australian business with a successful turnaround.
“AMIST originated in the Australian food industry and we are delighted to again support the sector,” Mr Rutherford said.
“I look forward to participating as a director of SPC and to contributing to its globalisation strategy.”
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