The opportunity was created to mark the food company’s relisting on the stock exchange for the first time in 20 years.
The new company, SPC Global, has been created out of the merger of SPC, The Original Juice Company and Nature One Dairy.
The dairy division is the company’s first foray into dairy production and the juice company a first plunge into premium juices.
SPC Global chair Hussein Rifai spoke about the privilege of being an Australian manufacturer supporting regional areas and celebrating high quality Aussie food, at the stock exchange.
Managing director Robert Iervasi said the changes meant the creation of four divisions within the company: SPC, the food division responsible for the iconic SPC brand; Natural Ingredients division targeting high-growth industrial segments; The Original Juice Co, driving beverage category growth; and Nature One Dairy.
The dairy division manufactures milk powder at a Carrum Downs plant
Mr Iervasi said Nature One dairy’s significant customer base across Asia would open up opportunities for the other SPC divisions.
Mr Rifai said the relisting was more than a return to the ASX; it was a pivotal step in SPC Global’s journey to become a global food and beverage powerhouse.
“By uniting these strong, iconic brands and expanding into high-growth industrial channels, SPC Global is poised to deliver sustainable, long-term value for our customers, employees and shareholders,” he said.
Mr Rifai said SPC Global’s combined capabilities and expanded product offerings will allow the company to better serve its customers across diverse markets, both in Australia and internationally, while continuing to champion its deep Australian heritage and partnerships with local growers and suppliers.
The share price opened at $1.31, but declined over subsequent days to about $1 on Friday morning (December 20).
SPC Global announced new appointments to the company, including new group chief financial officer, Brant Clutterbuck, who was previously CFO at Starbucks Australia and spent five years with Asahi Beverages.
Group chief commercial officer will be John Harwood who has worked with Asahi Beverages and Carlton & United Breweries.
Hayley Coldrey will join SPC Global as general legal counsel in January.
Nick Dimopoulos will continue in his leadership role as CEO of Nature One Dairy.
The new company has a combined workforce of about 600.
The SPC Global board will be chaired by Hussein Rifai, who has played a pivotal role in SPC’s transformation since leading its acquisition from Coca-Cola in 2019.
Joining him on the board are Kerry Smith, former CEO of PFD Food Services, and Adam Brooks, both transitioning from The Original Juice Company. Andrew Cohen and Robert Iervasi make up the rest of the board.
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