SPC is set to merge with Original Juice Co. and acquire Nature One Dairy. The combined entity, to be known as SPC Global, will be listed on the Australian Stock Exchange (ASX) with Original Juice Co.’s ASX code changing to SPG. Former Asahi Beverages Group CEO Robert Iervasi will lead the new business as managing director.
The acquisitions of Original Juice Co. and Nature One Dairy are expected to cost around $53 million and $50 million, respectively. SPC, known for brands like SPC, Ardmona, Goulburn Valley, and ProVital, generated $271 million in revenue in the 2024 financial year. Original Juice Co. had revenues of $49 million, while Nature One Dairy brought in $46 million.
The enlarged group, under the leadership of SPC Chairman Hussein Rifai, aims to generate over $400 million in revenue and $29 million in EBITDA in the 2025 financial year. The merger is seen as a strategic move to ensure optimal utilization of manufacturing facilities, especially during the limited 12-week seasonal production window in Goulburn Valley.
The shareholders of Original Juice Co. are set to vote on the deal in a meeting scheduled for November. The new entity’s increased scale and diverse product range are expected to enhance its position in the retail market, with a focus on major players like Coles and Woolworths. The consolidation of these companies is driven by the need for greater influence in the competitive food industry landscape. Please rewrite this sentence.
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